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I retired in 2002 and in 2003 my previous company contacted me to "entice" me to come back and work for them for 2 years in Asia Pacific with all expenses paid and on an hourly contract which I did. I will be finishing up this contract and assignment at the end of this year. I currently have a home in Colorado that I bought after I retired, having sold my previous home and moving there, of which I owe approximately $120K on my mortgage. That mortgage is a 30 year mortgage at 5.25%. Now, I have accumulated quite a bit of cash savings in the past two years to where I can pay this mortgage off with no financial drain. I've read discussions before (Suzie Orman and others) who indicate this is the smart thing to do but I'm really wondering about this. I currently receive a monthly pension from my previous company (32 years of service when I retired...I'm 58 years old), to the extent that I need not work anymore and cannot spend what comes in every month as it is. My question is...should I pay this mortgage off? I also am sitting on about $750K in my IRA (401K rollover).

Or should I park the cash stash (over $200K savings) into some conservative investments?

Looking for some advice.

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