I think you should enter retirement with a paid off home, not a mortgage. If that requires making extra principal payments, that's what you should do. However, I think having a paid off home and little to no retirement savings is foolish since you can't live off your home's value unless you borrow against it or sell it and downsize. When I do my net worth, I don't include home equity as that is dead money to me.
I think paying extra on the mortgage can be part of an overall savings plan. I currently send an extra $100/month to the mortgage. That is in addition to maxing Roths for each of us, my wife putting the max allowed in her 401k, taxable investments, a 529 plan, etc. The extra going to the mortgage is just a small part of the overall plan.
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Steve
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