My client just turned 50 and is about nine years away from withdrawal eligibility? In nine years from now he can dip into his 401(k) retirement savings without incurring penalties or fees. His told me that he’s too old to risk money in the if you are 10 years away from retirement what should you do? Should you gamble a few more years and hope that the stock market goes up in time and you pull out before you lose your money or should you think about a strategy to get rid of debt. The choice is not the strategy that I’m referring to is specifically paying off your mortgage.
Now I know that there are arguments against not paying off your 203k loan texas mortgage early and investing all the surplus money you have in the stock market. In the long run the stock market return should out- perform savings you would get from paying off the mortgage is an extremely logical argument and depending on how long you have left to retirement, this may make sense for your financial we all know that investing in the stock market carry some form of risk and there could be another market crash by the time you the question is, are you willing to risk investing money and losing this especially in the years just before retirement?And what if you are able to pay off your mortgage before you retire. In retirement instead of using your retirement savings to pay for … Read More