Pay off mortgage, or add more to TSP?


Q: I wanted to have my house paid off by the time I retire in 2025. I am over 50, and the yearly payment needed to pay off my house would equal my Thrift Savings Plan catch-up contribution; I can’t do both. Would you recommend paying off the house or paying more into the TSP account?

A: It depends upon your assumptions about the future and your circumstances. With what little I know about you (virtually nothing), I can only recommend that you carefully consider keeping the mortgage and making the TSP contributions.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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