"Retirees Debate: Pay Off Mortgage or Maintain Comfortable Lifestyle?"

Retirees with $350,000 in savings are considering whether to pay off their $132,000 mortgage. While having a mortgage is not considered "bad debt" like credit cards, it's important to weigh the financial impact. Paying off the mortgage would take more than a third of their savings, so they should consider their overall financial picture, including their risk tolerance, potential returns on investments, and the role of home equity in retirement. Consulting with a qualified financial planner can help them make an informed decision.