When I said debt-free, I didn’t mean having a zero or positive net worth with assets equal or greater than debts. I meant I didn’t want to owe nothing to nobody. Positive net worth, zero debt.
If you take the standard deduction, which will be much more common with the increased standard deduction resulting from the Tax Cut and Jobs Act, you are paying the full mortgage interest rate, getting no deduction on the interest you pay.
The other heavy debt burden carried by many of us are student loans. The payoff calculations are similar, but not identical for the high-income professional.
Every goal needs a good plan, and mine evolved as our situation changed. We actually moved a couple of times and bought a couple more homes.
Ultimately, the answer depends on a number of factors. Some are simple math. Are they high-interest loans? Is the interest tax deductible and are you in a high tax bracket?