Reply To: Paying your mortgage off early
Long term the market does better. 8% average return the past 20 years including the meltdowns in 2001 and 2008.
The problem is you cannot guarantee that return on the day you need to begin accessing your retirement account. If you retired in 2008 then your retirement account dropped 37%.
Once your mortgage is paid off, it is done. House value can rise or fall but you’ll never have that debt payment again. We paid off our mortgage two years ago so the market can fluctuate and it will not impact my housing situation.
Plus I still claim our standard deduction.