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Should You Pay Off Your Mortgage Before You Retire?


Aug. 5, 2014 Kiplinger

Paying off your mortgage before you stop working could help provide you with something every retiree seeks: peace of mind. But there may be better uses for your money, at least in the short term. If you have credit card or other high-interest debt, pay it off first. And don’t neglect your retirement savings. Your remaining years on the job represent your last chance to sock away money in tax-advantaged retirement accounts. Finally, you should have an emergency fund so you’re not forced to tap retirement accounts to cover unexpected expenses.

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