Delaying Retirement To Pay Off The Mortgage?

Sarah and her husband are close to paying off their mortgage, and they want Dave's blessing to pay it off before bumping their retirement back up to 15%.

QUESTION: Sarah in Spokane and her husband are close to paying off their mortgage, and they want Dave's blessing to pay it off before bumping their retirement back up to 15%. It will take them 10 months to do it. Dave tells Sarah he'd definitely do it.

ANSWER: I would definitely do that. If it were going to take you three years and the difference in you doing 15%—which is a question I get a lot—I'm going to tell you to save for retirement, because you're still going to get your home paid off really quickly. But in your case, it's like a big car payment. Just knock this puppy out.