We've reached step 4 in our look at what CNN Money recommends for rescuing your retirement. You can read about the other steps in other posts: Keep Working, Pump Up Your Portfolio, Evaluate Where You Are Now.
Concentrate on your mortgage
CNN Money recommends that you consider trying to pay off your mortgage sooner. If you have the funds available, you can pay down your mortgage. The goal should be to have the mortgage paid off by the time you retire. I can see where this would be helpful. I think that having your mortgage paid off would be a great step in being completely debt free:
2. If you decide to downsize, you keep all the money from the sale price.
3. You could use a carefully thought out reverse mortgage to earn regular income.
And, of course, if you just live in the house, your monthly expenditures are much less if you aren't making a mortgage payment.
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