Hello, I'd like financial advice on managing my retirement funds.
When I retire, I will be receiving a pension equivalent to what I earn today (100 percent). What I would like to do is cash out 33.33 percent of my retirement as a lump sum payment and use these funds to pay off my mortgage. With the mortgage paid off, I'd still be receiving 66.67 percent of my pension for the rest of my retirement years.
Does this approach make good financial sense.