When should you pay off your mortgage?

WASHINGTON (WUSA9)-- If you own a home and you expect to retire, then you should be thinking about how you plan to pay off your mortgage, according to one expert.

Sandra Block, from Kiplinger's Personal Finance, tells WUSA9 that you should pay off your mortgage before you retire.

Your home is usually your biggest expense, so that's why it's probably a good idea, Block said.

She also encourages that if you make large payments pre-retirement, you will feel great once it's paid off. Block also said, paying off the mortgage before retiring, means you have a lot more money and security.

Find out other reasons why you should pay off your mortgage before you retire by watching this video.


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