Circumstances: married couple, no kids, I'm 60, husband is 58; I'm working part time, SE (earning very little), and he is full time, long-term steady professional job. Only debt is mortgage. Four years ago, we sold an investment property and put the proceeds into a Vanguard fund, to which we add $1,000/month. We also fully fund his 401k and our Roths. I have a 401k from my old job that has been doing pretty well. The Vanguard fund currently has enough in it to pay off our mortgage with a couple years' living expenses left over. I've been increasingly worried about the stock market because it has risen so high, and according to all the experts (including MMM) is due for a correction anytime now. We are thinking that if we pay off the mortgage that will (a) lock in however much that fund has earned on that money and (b) position us to have lower costs when husband retires in a couple of years. And of course we will save the difference in our expenses, at least until then.
Total net worth is >$2 million, not including the house.
Any thoughts on this?