If you pay off your mortgage before retirement, you take a huge financial load off your shoulders. You also become eligible to take out a reverse mortgage once you turn 62.
I always say, 'People first, then money, then things.'
I want to be clear here: It does not matter what you say in your will or trust; the beneficiary document attached to your IRA accounts and your life insurance policy overrides what you say elsewhere. If you want to change the beneficiary, you must change the beneficiary document.
A wise woman recognizes when her life is out of balance and summons the courage to act to correct it, she knows the meaning of true generosity, happiness is the reward for a life lived in harmony, with a courage and grace.
David Hope, Baron Hope of Thornes