Should I pay down my mortgage with assets from 401(k), stocks and savings?

I will be 65 years old next year. I have a mortgage balance of $157,000 at an interest rate of 5.25% with 22 years left to pay. I have $70,000 in a savings account, $50,000 in stocks, and $55,000 in my 401(k). Should I use part of my assets to pay down my mortgage? If so, how much?

Debt, Personal Finance, 401(k), Stocks
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2 weeks ago
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Keep your cash, stocks and 401k.  Refinance your house.  Rates are around 4% - for a 20 to 25 year mortgage, that should lower your payment.

By doing so, you lower your fixed payment for 20+ years, which will make these assets along with Social Security go further for you.

 

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