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While it is certainly admirable to pay off your mortgage before you retire, our experience is that retirees and pre-retirees over-estimate the impact. In today’s world of low mortgage rates, paying off the last $100,000 of your mortgage, may free up cash flow, but isn’t saving you much in interest cost. You are still left with paying insurance, and property taxes, which will continue to go up. If you consider the fact that the IRS allows for a building to depreciate over 27.5 years, it stands to reason that you may need to almost completely replace your home over 25-40 years. And if you are banking on your home to pay long-term care costs or for a move to a more elderly friendly environment, you might be disappointed in what you get. more »

Another outbreak of E.coli: The FDA, along with CDC, state and local agencies, is investigating a multistate outbreak of E. coli O157:H7 illnesses likely linked to romaine lettuce. The Public Health Agency of Canada and Canadian Food Inspection Agency, are also coordinating with US agencies as they investigate a similar outbreak in Canada. CDC and public health and regulatory officials in several states are investigating a multistate outbreak of multidrug-resistant Salmonella infections linked to raw turkey products. In the meantime, a significant, positive change in FDA’s food safety policies, and one that The Pew Trusts and 10 other public health groups had urged because store information can help people determine whether they may have bought or eaten potentially dangerous items. more »

Ferida Wolff writes: This Fall, though, has been slow in offering up its charms. The summer heat seemed to last longer than usual. I wonder if our winter weather will be different as well. Certainly different from my childhood memories of autumn. Weather-wise there are more storms, more drought, more floods all across our nation and the world. There is more political animosity, more anger, more active hatred. I try to look at people in a universal way, hoping to see what connects us rather than tears us apart. I look for the joy in life even though I know there are times for grief. more »

Few American homeowners were spared from the broad housing collapse a decade ago, but Generation Xers were hit particularly hard. Newer to the housing market, more likely to be buying at peak prices and taking on more mortgage debt to buy their homes, they lost more wealth than other generations. But a new Pew Research Center analysis of Federal Reserve data finds that Gen Xers are the only generation of households to recover the wealth they lost during the Great Recession. more »