Our lean: do not rush to pay it off. The deciding question is where your dollars work hardest. At 60 you are typically in your peak earning and saving years. If your mortgage carries a low fixed rate, which is common for anyone who bought or refinanced when rates were near their lows, that debt is close to the cheapest money you will ever have. As long as your invested funds can reasonably be expected to out-earn your mortgage rate over time (never a guarantee), keeping the loan and letting your retirement balance keep compounding usually comes out ahead of throwing cash at a low-rate balance. The math flips in a few situations: - Your rate is high. - Paying the loan down genuinely helps you sleep at night. - You are close to retirement and want to erase a fixed expense so you draw less from savings each month. Those are real, valid reasons, and peace of mind has value a spreadsheet does not capture. Purely on the numbers, though, paying off cheap fixed-rate debt early to sit on more home equity, an asset that earns nothing while it sits there, is rarely the optimal move. Money in the house is also hard and expensive to get back out. The decision is yours, and it belongs inside your full retirement picture, so consider modeling it with a financial advisor alongside your own risk tolerance.