My friend tells me a friend has $400,000 on his mortgage flat. The interest rate on the loan was fixed at 1.3% p.a. As we all know, the interest jumped to more than 4.1%. His friend found that the interest component of his loan was $1,000 a month higher. You may have heard of similar stories like this. If you have been prudent with your income by ensuring a healthy savings rate, you can stomach the $ 1,000-a-month increase. If you have not, you will run into a problem. What if You Have Already Stop Working? It took a few moments for me to process that my friend’s friend still has income to try and make things work. My attention turned to the retirees. There are some who wish to stop working so much that I will walk by and sometimes hear that part of the retirement income plan includes paying down a mortgage....