Watch: When to Pay Off the Mortgage Early

pay off your mortgage
pay off your mortgage

While paying down the mortgage is undoubtedly one of the largest financial burdens many Americans have to contend with, it's certainly not the only long-term investment homeowners need to consider. This is particularly true for homeowners nearing their 60s, for whom financial investments made today can have a lasting impact on their post-retirement income. Our sister site, DailyFinance, addresses this issue in the latest entry of their "Ask the Expert" video series with Regina Lewis.

For 57-year-old Ed, a homeowner nearing the end of his fixed-rate mortgage, the decision to pay off his debt early or begin investing his money elsewhere can make a real difference in just how far his savings will take him. Read his full question, and Regina's video response, below.