In my calculation, $300,000 at mid 60 is not much for your distribution after retire. Normal ssa case, if your income over $2000(?), ssa will hold $1.00 for each $2.00. till 70 years old. Then return to you after 70 . Your distribution from your ira will be $10,000/year & your soldier"s pension & rent would be your income. Calculate for your benefit yourself. Paying mortgage more each time is not bad idea.