Besides eliminating a financial burden, becoming mortgage-free will reduce stress and give you peace of mind, she writes: "You will be more protected from any number of unknowns: being forced to leave your job sooner than you expected; or the possibility that tax rates will rise, effectively reducing the value of what you have saved in your traditional retirement accounts; or the risk that investment returns will disappoint."
Plus, "you will be extra glad to be mortgage-free when the markets fall," she continues. "Those are the times when being able to rein in your spending a bit can be such a big help."
Orman even advises cutting back the amount you're directing to your retirement accounts in order to have more cash to pay down your mortgage.
That said, you should still contribute enough to get the full 401(k) match if your company offers one, she says: "That is to never be turned down. But, beyond that, I say stop saving at work and plow the extra money that will pop into your paycheck to reducing your mortgage debt ASAP."