Budgeting and Financial Planning

Should You Pay Off Your Mortgage Before You Retire?

Rodney Brooks
September 18, 2023

Some 44% of homeowners ages 60 to 70 carry a mortgage with them into retirement, according to mortgage banker American Financing.

Is that a smart financial move? The decision of whether to pay off your mortgage before retirement should hinge on how much you've saved for retirement, your cash flow and how your investment accounts are performing.

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“Rodney A. Brooks’ ‘Fixing the Racial Wealth Gap’ is one of the best written and most prescriptive books I’ve read on this prickly subject. Using powerful stats, stories and insightful wisdom, it is written from the heart, mind, body and spirit … plus years of research and thought as a mainstream journalist, Fixing the Racial Wealth Gap is revealing, humorous, instructive and sobering.” – Dr. George C. Fraser