Then again, paying down your mortgage might not be the best solution if it leaves you without enough of a retirement savings cushion.
“If most of your wealth is tied up in your primary residence going into retirement, it can be tricky to find a good solution that allows you to maintain your desired lifestyle — especially if you want to stay in the home,” said Taylor Schulte, founder and CEO of San Diego-based commission-free financial planning firm, Define Financial.
Schulte suggested downsizing and using some of the equity to help fund your retirement. “Many people in this situation have a home that is far too large for their needs anyway,” he said.
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