Should you pay off your mortgage in retirement? Experts weigh in

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It’s one of those debates that rarely seems to have a clear-cut winner: Should retirees pay off their mortgage or continue making those monthly payments?

The answer — probably somewhat annoyingly — is that it depends.

Of course, there are a couple of immediate benefits to paying off a mortgage: Your monthly obligations drop and you may get more wiggle room in your cash flow. 

However, depending on where the pay-off money would come from — as well as your tax situation and your available remaining assets — there could be financial implications that would need to sit well with you.

Here’s what to consider.

The numbers

The tax factor

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