Welcome back to another episode of Ready for Retirement. On today's show, we're going to talk about

whether or not you should pay off your mortgage as you head into retirement. And before you

jump to an immediate conclusion, keep in mind that this very much depends upon when you got your

mortgage, when you took out that mortgage, because this answer is going to be very different

for someone who took out their mortgage today, for example, versus maybe someone who took it out

a few years ago. Simply due to the rapid changes we've experienced in interest rates over the past few years,

in the potentially rapid change to interest rates we may experience in the future,

there's a lot to uncover with this specific topic.

All ahead on today's episode of Ready for Retirement.

This is another episode of Ready for Retirement.

I'm your host, James Cannell, and I'm here to teach you how to get the most of the life with your money.

And now, on to the episode.

This show is based on a listener question, and this question comes from Connor.

Connor says, hi, James, I love your podcast, and I've been learning a lot.

Here's my question that I would assume others would have a similar scenario. I would like to be in a position to retire, even if I don't, when I'm age 57. I recently

financed my home in late 2020 when the rates are super low and my interest rate is 2.75%. So, I'll have

another 22 years of mortgage payments once I do retire, assuming I don't pay it off. I could pay it off now,

and the balance is $332,000, but I think it would be better to invest because the tax benefits

of having a mortgage, and I should be able to earn more on the money if it's invested. What do you

think, Connor? Well, Connor, thank you very much for that question. I do think a lot of people

have similar questions, and that is one of

the big things of do you pay off a mortgage as you go into your retirement? And here's a really

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