
Should I Pay Off My Mortgage in Retirement?
From a financial perspective, it's in your best interest not to pay off your mortgage in retirement but to keep your money compounding. Over 10 years, a $500,000 investment would grow to over $814,000 compared to the $696,650 total cost of a loan. This dynamic is due to how amortization works, with the balance decreasing over time. The assets are irreplaceable, akin to having all your 'mules' working for your benefit in retirement. Preserve these assets for potential end-of-life expenses, ensuring financial security for the long term.