Dear Wealth Wise: We live in New England in a mortgage-free home. I'm 63, and my husband is 65. I collect Social Security Disability and a pension. My husband still works and owns a rental property in Arizona with a $75,000 mortgage at 3.9%. The house is worth $340,000.
Between my benefits, my pension, and our annuities, we hope to have enough retirement income to manage without the additional income from the house. But we are concerned that inflation will make that more difficult over time. We currently clear $700 a month after expenses on the rental, barring extra repairs.
