Should I Pay Off My Mortgage Before I Retire?

 

Many people, including me, dream of having a “mortgage burning” party the week they retire. The very thought of making my last mortgage payment makes me jump for joy. No mortgage payment means peace of mind, freedom and a strong sense of security.

But is it a false sense of security?

Given today’s low interest rate environment, it might make sense to hold onto a mortgage, since the cost of money is relatively inexpensive. With the uncertainty around health care costs, maybe it’s not smart to tie up assets in an illiquid investment.

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