I’m 67 and retired with $57,000 left on my mortgage and $600,000 saved for retirement — should I pay off my home now?

I’m 67 and retired with $57,000 left on my mortgage and $600,000 saved for retirement — should I pay off my home now?
·5 min read

Will we have enough to ‘live a simple life’ in retirement? Many other retirees wonder the same thing as you, and may be in similar financial circumstances where they’re able to pay the bills and have money saved in their retirement accounts. Your interest rate is fantastic, you’re capable of making the monthly payment from just your pension and Social Security without tapping into your 401(k) and you have so much of your home already paid off — all wins.