sometimes things happen that means you'll have one. For instance, I divorced at age 60, relocated to another part of the country, and bought a house. I did not have the financial means to pay cash, and I couldn't afford the payments on a 15 year mortgage. So I'm now a bit more than 10 years into a 30 year mortgage and I'm fine with that.
I didn't read all of the comments, but as far as I got in them several people trashed annuities. I honestly don't understand that. Annuities may not be for everyone, but they have their place. My financial advisor got me to purchase 2 annuities back in 2012. I started taking income from them at the end of last year. The return on them, in terms of income, is better than the 4% that's considered safe to take out of other investments and savings. In fact, my income has increased during the early years of my retirement, and I'm able to put money in my savings each month.
I've also just started making extra payments on my mortgage, because now I have the money to do so.
I don't understand why so many stay in a huge house after the kids are grown. Often the excuse is to have a place when kids and grandkids come visit, but even people who had only one or two children and now have only one or two grandchildren often stay put. I don't get that. Oh, well.
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