I am retired - my income is substantially less from not working - living off some non-taxes inheritance for a few years - will not be withdrawing from my SEP for a few years - no business expenses - should I pay off my home mortgage with an interest rate of 3.5%?
I understand the desire to be completely debt-free — but then you don’t want to be completely cash-free either! I don’t know how long the mortgage has to run, but it would be a great incentive for you to earn just enough each month to make the mortgage payment. That would let your tax-deferred retirement dollars continue to grow tax free as long as possible. So, without knowing your age, your budget, or the term of your mortgage, I’d suggest you try to pay it down, not off using your cash.