[rsmurano]

IMO, the $1.5M is over and above your house value. You don’t make money from your home while living in it, so the house is only good if you want your net worth to be higher.
I didn’t pay off my homes until I was financially secure in investments mainly because I was making more money on my investments compared to paying off my home loan. Some days, I would make more in the market than the yearly cost of a mortgage.
I buy new cars every 2 years, when I was working and in retirement, why should I change when I’m retired. So if your expenses are a couple thousand less every year, what happens if you buy a new $50-$60,000 car? You know you will have too at some point.

Also, renting is like throwing your cash away. Your rent is covering the owners mortgage and all expenses plus a profit. The difference is, the owner will reap gains when they sell and the renter walks away with nothing. If you think the sky is falling in the real estate market, you are wrong. I know friends in TV that has just sold for $200,000 profit in only 1-2 years. Location location location.
If you pay off a mortgage with little in savings, if you ever need extra cash for an emergency for example, your options are taking a secured loan on the house or do a reverse mortgage, which neither are good choices.
$1.5M is way less than what you need in investments without adding in your home.