7 Plays for Your Money Now That Your Mortgage Is Gone
You’ve finally paid off your mortgage. Now that you have more money to play with, you can breathe a little easier and do things you’ve always dreamed of doing. But keep in mind the first rule of money management. Pay yourself first.
1. Put More Money Away for Later
You no longer have a mortgage payment. Try to put some of that money into your retirement plan.
2. Put Money in a TFSA
They can help build your wealth tax-free. Talk to a TD Financial Advisor.
3. Pay Off Your Credit Cards
Now’s a good time to get that balance to zero.
4. Give Back
Life is all about giving, isn’t it?
5. Pursue a Hobby
Whatever it is you enjoy doing, go for it. Now you have some cash to do it.
6. Set Up an Educational Fund
Help make college affordable by setting some money aside for your children or grandchildren.
7. Don’t Forget to Celebrate
This is a real milestone. Make a big deal out of it.