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Reply to "I said we can’t retire yet. Am I wrong?"
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[quote=Anonymous][quote=Anonymous]Why does everyone keep insisting that the mortgage needs to be paid off before retiring? I’ve been early retired for 10 years, I’m still not 65, and we still have a mortgage. I could pay it off tomorrow, but it makes no sense to do that financially. It all depends on the interest rate, the tax deductions, and how diverse your overall portfolio is. You are all retirement planning amateurs for focusing so much on mortgages. [/quote] +1 It's kind of like people saying for decades that a Roth IRA is better than a traditional. I actually believed this for years until I looked into it more closely when it came time to consider doing Roth conversions. The answer is that it just depends. People have been told the same thing for decades about not having a mortgage payment in retirement. If you are 100% stocks and have a 4% mortgage, it's a no brainer to keep the mortgage unless you just like the idea or peace of mind of not having a mortgage.[/quote]
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