I’m selling my law practice and retiring. Do I pay off the $2 million mortgage on my office building — or rent it out?

Dear Quentin,

I am 64 and my wife is 63. We have $2.5 million in an investment account, plus another $4.5 million in retirement accounts. I will be selling my law practice for $2.5 million in two years, and we expect to save about $1 million more before retiring.

We also own the office building where the firm operates. The building is worth $3.5 million and has $2 million in debt. As part of my buyout, the firm will sign a 10-year triple-net lease. The building generates $26,000 per month in rent, with an annual increase of $500 per month.