re: Am I early retirement ready? Updated

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I'm way too conservative but I wouldn't call myself retirement ready if I had a mortgage. Getting rid of a mortgage is my first requirement.

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I think the way I look at it, a mortgage is currently around-- 3.85%? At most, 5%? I haven't checked rates lately, but those were numbers several months back. Money in an index fund is typically going to grow at a better rate than that. I'd rather have money in an index fund growing than have all or most of my assets tied into a house with little or no savings set aside. It would be one thing if there wasn't a pension coming in, but that's not the case.

If emergency cash is the concern, there's always the option of a refi or heloc down the road.

Then again, we're not talking about a McMansion. The OP lives frugally enough, he's not going crazy and buying a 600+k house.