Exit Plans time to start thinking

Have you thought about what you're going to do when you retire and you have your home loan? Hey, it's Aaron from Diagnostics and Finance. And one of the biggest questions that is coming back from credit managers these days and is coming off the tip of my tongue when I'm talking to people over the age of 40. Now, 40 doesn't seem too old, but if you add 30 years, which is the remaining term of a standard home loan, the maximum term you go from 40 to 70. So if you're 45, your ending loan would be 75. So what we need to do when we're starting to think about going for a home loan over the age of 40 is we need to think what are we going to do to extinguish this debt once retirement comes? We all don't want to go into retirement debt loaded. But let's see what we need to do. For example, an investment property, you don't live in that, so you can think of it slightly differently to your own place. If you've got lots of debt on your own place, you need to think how you're going to extinguish the debt when you go into retirement. Hey, it's Aaron from Diagnostics and Finance. This is something that is not commonly put out there when you go for a home loan. You do find this out fairly quickly. So think about what you're going to do when you go into retirement with a 30 year mortgage. Bye for now.