Navigating Mortgage Decisions in Retirement: To Pay Off or Not?

A new book explores whether retirees should pay off their mortgages, highlighting both financial and emotional considerations. With significant home equity, older Americans face the decision of using cash to eliminate mortgage debt, which can free up monthly income and provide peace of mind. The decision often depends on mortgage rates and personal comfort levels, with experts suggesting that paying off mortgages can offer financial flexibility and emotional satisfaction. The book also emphasizes the importance of addressing both financial and emotional questions when planning for retirement.