In an ideal world, you would enter your golden years debt-free. By erasing what is usually among the biggest debts anyone has, your mortgage, you would undoubtedly make the math on your monthly retirement budget much easier. But whether or not paying down that debt is feasible to do — let alone the most financially responsible move to make — is a whole other question.The answer will depend on the specifics of your financial situation and mortgage loan. After all, the “right answer for a homeowner carrying a 2.875% mortgage, a solid brokerage account and a reliable pension looks very different from the one facing someone with a 6.5% loan heading into heavy IRA withdrawals,” said Kiplinger.
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