Like many things in this world, the answer to whether to pay off your mortgage or not is…It Depends! It is often a matter of “head versus heart”. I know in my own family, my grandparents had the long dreamed of “mortgage burning party” to celebrate the end of their mortgage obligations. However, “Financial planner Diahann Lassus views as misguided the “obsession” some baby boomers have with paying off their mortgage before they retire.” (Read her analysis in the Squared Away article)
Squared Away had input from a financial planner and a CRR economist about the question and the analysis is insightful.
From the article, “There are few problems in life that aren’t mitigated by having a lot of money,” says Anthony Webb, CRR senior economist.
You can access the CRR website and article by following the link
http://squaredawayblog.bc.edu/squared-away/mortgage-payoff-freedom-vs-the-math/
Title of the article is: Mortgage Payoff? Freedom vs the Math, posted November 12, 2015
You can also subscribe to the Squared Away blog from their website. It is free.
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