For some people, not having a bond/debt gives them peace of mind and they may also be trying to maximize...what they pass on to their heirs.
For others, having the additional cash in the bank for unexpected bills or longevity (we can all hope
)...gives them peace of mind.
As many others have said, it really does boil down to an individual choice...and what each person thinks is best for them.
There is no right/wrong choice...that fits all.
