Re: Pay Down the Mortgage or Save for Retirement? Which is better in my situation?
These are great posts! The only thing I would like to add is that we are experiencing historically very low interest rates. I doubt that I will ever have the opportunity to have a 6% mortgage again. So, in most cases (there are always exceptions, and the person very close to retirement is probably one of those exceptions), I think you should take advantage of these historically low rates by using your extra money to invest towards your retirement instead of paying down your mortgage. If you can do both, great! But if you have to choose between the two, I would recommend that you save more towards your retirment compared to paying down a 6% (less when you consider the tax benefits) mortgage.
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