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Because you need to have it paid off by the time you retire. I know many that are ready to retire (in age) but can't because they still have a mortgage. No personal choices left for those guys but continue to work!
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Cant argue with anyone financial decision, lots of choices and we own them.
I dont understand the bit about paying off a mortgage before retirement though. Why no assets or income at retirement? Maybe you have too much house? Lots of ways to run the #'s.
With rates so low I like the idea of having $$ available for investment. Add in the tax advantages and you dont need much of a return to make out in the long run. Want to pay it off when you retire? Go ahead, sell some assets. Living mortgage free sounds great, but I also dont believe in tying up my cash in one asset, even if I live there.