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Age is also related to home-finance decisions. My brother recently refinanced to a 15-year fixed at 2.65%. He plans to retire in his late 60s, 5-8 years from now, and is saving to pay off the mortgage in full at retirement. (He will retire on a single person's Social Security benefit and his small-business-owner SEP-IRA and wants to keep ordinary living expenses as low as possible in old age in case of expensive health issues, major recession, or other financial challenge when going back to work to make extra money is no longer feasible.)
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