Yes as long as you actually invest the money you would otherwise be using to pay down the mortgage into something that has a higher return than the mortgage is costing you. This isn't difficult to do, but a lot of people don't do that, they just spend the money.

You said it most live the life of Riley and that’s fine if you have wealthy parents to cover for you most do not. Another area where people squander their money is dipping into their 401(k) over the years.