A LOT of people I know in their 60s are still paying off their mortgage because when they get enough equity they either buy a bigger house or do cash out refina

A LOT of people I know in their 60s are still paying off their mortgage because when they get enough equity they either buy a bigger house or do cash out refinancing. Having a paid off mortgage doesn't let you live for free - taxes+ utilities+insurance+repairs exceed what I'm paying on my mortgage (I have no escrow).