re: The reoccuring question.. should I pay off my mortgage?

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Finally, I just don't get the whole "peace of mind" thing.

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and yet plenty do.....especially those who have struggled most of their life with a house note during bad times,other debts/situations, etc.

it all depends on his situation of which he has not given us the details of. You want that note during a job loss? Family debt crisis? UI runs out? Who knows what can happen? Emergency fund run out on other debts? Foreclosure?

Bottom line is if he paid off the house and had next to nothing left(Huge mistake) then yes most would prefer to milk that cheap rate and invest that money instead. Now if he has as much in the bank along with that money he inherited and he plans to stay there awhile pay it off...unless he would save that inherited money for his emergency mortage note and invest it in a high dividend yield fund in the meantime. I prefer no bills (if at all possible) as i have had enough notes over my lifetime. But that is just me.