My husband and I are on track to pay off our mortgage by the end of 2025. Some friends, however, suggest it might be wise to leave a small amount in the mortgage account as a financial cushion for emergencies. Are there benefits to keeping some money in the mortgage, and if so, how much would you advise? Since my husband is over 65, we could also access his superannuation if needed. Any advice on this would be much appreciated.

I think it’s a good idea to keep a loan facility open because you never know when an emergency might arise, possibly involving family members. You just need to find out what the fees are, but as long as they’re reasonable, I don’t see any downside.

Still having a small mortgage may not feel like you’re truly ‘free’, but it can be a boon in case of emergencies.Credit: Simon Letch

My partner is in an aged care facility, which initially required a $510,000 refundable deposit. Since then, this facility has closed, and she had to move to a new one, which required only a $350,000 deposit. As a result, she now has an extra $160,000 in her bank account. Could you please clarify whether this additional........

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