Ideally, retirement savers should have a clean financial slate before they transition into retirement, which means minimizing (or eliminating) credit card debt and paying off any outstanding loans. But what about mortgage payments?

Many savers push to pay off their mortgage before they reach retirement age in order to reduce their monthly expenses once they are done working. Depending on your unique financial picture, however, paying off a mortgage might not offer as much of a benefit as you think—and in some cases it can even negatively impact your retirement strategy.

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