Reply to Spouse Insistent on Paying Mortgage Off Early

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[quote=Anonymous][quote=Anonymous]My husband is obsessed with paying our mortgage off early and I have been unable to convince him that this is a sub-optimal financial decision. He hates the idea of paying interest and is allergic to debt. Our mortgage rate on our home is only 5% but he would rather contribute to paying our mortgage off early instead of investing more in our retirement accounts. Just for context here is a summary of our financial situation. We are in our early 30s and our total NW is around 1.1M. We have 240k in retirement accounts and we are contributing a combined amount of around 36k a year to our retirement accounts. We own 2 rentals, one is paid off and the other rental has a sub 3% mortgage on it. Our total income is around 250k per year. Basically the disagreement is that he would prefer to pay off our mortgage by 2035 and I would prefer to max out our 401k's. What should I do, just give in and pay off the mortgage early or double down on 401k contributions?
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I think it’s fine paying down your 5%!mortgage if it makes your husband feel good about being debt free. Now, if you had a 2.5% mortgage, I would give a different advice. [/quote]

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