[MonarchDon]

So, if it gives you psychic benefits, you are probably justified in paying off the mortgages. I paid off my mortgage when I was forty and have never regretted it. With no mortgage payments, you should be able to to fully fund your retirement accounts and rebuild your financial assets (which is important in terms of diversifying your wealth).

If you decide to pay off your mortgage you should take out a home equity line of credit which has zero cost if untapped. This process usually involves zero closing costs and the line can be used for "emergency" liquidity.

Be careful about thinking you are "FREE AND CLEAR". One million dollars is not enough money to retire on - you are off to a good start but have a long way to go (particularly since alot of your wealth is tied to your principal residence).

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Thank you for what seems like logical, sound advise. I like the equity line idea that way I wouldn't have to look for a first mtg. which may be dificult? I was thinking about buying more investment property and obtaining tax write offs through mortgages on rental properties?

I think the psycological part is right on, I'm from old school upbringing and have been taught that " stop paying intrest and start collecting intrest"

I'm a long way from being "setup" however, if my income changes in the near future at least I'll have a roof over my head, (as long as I can afford the property taxes)