I read an interesting article from Forbes about considerations for retirees paying off their mortgage.
This highlights the need for proper personal financial management, education, and budgeting early in life. If you don’t have these basic skills coming out of college/university, it can be a real challenge.
This education is typically free, so you have to get it. Talk to any financial planner, the internet is filled with links about it. This blog outlines some points but is in nowise complete. My personal favorite is Personal Finance for Dummies :) It’s a great intro and straight to the point.