Money Discussion -

[ferg....]

Would you pull money out of a 401k, if you could without penalty, to pay off your house note, knowing that the market is going to take a dump this fall when the fed stop pumping cash into it ?

That would free up 1.2k/month for other stuff (more investing maybe) and make a man 100% debt free ?

thoughts

ferg....

[Kenbob]

Yes if it's without penalty. I have to wait two and a half more years. Everything we have is paid for except my wife's new car. I will pay it off.

[Inkstainz]

I would if no penalty. If there is a possibility of penalties I don't know

Sent from this newfangled contraption

[ghost5]

Without penalty they couldn't write that check fast enough. Savings isn't savings if your monthly debt cost you more than what you are making on your savings.

[caretaker]

If I could do so without penalty. Also see if I could get credit on interest for early pay off. The way I see it the interest on your house note is more than the earnings on your 401.

[in the dog house!]

Without penalty they couldn't write that check fast enough. Savings isn't savings if your monthly debt cost you more than what you are making on your savings.

X2

[leader]

I would not be cause them you have no liquid money. If something catastrophic happens you would have to sale your house or borrow against it. jmo


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[MUP]

I wish I could, and not even to pay off any debt. Just want it out before oboobler and his muzlim minions put the lockdown on accounts such as 401k's to tax them for more "pit" money for them to donate to our enemies, home and abroad.

[ferg....]

Well crap - I just got done with my $$ guy - he says, when we rolled it out of myt old company 401 into his roth - he rolled 'into' class B funds - well WTF?

I can avoid the 10% govt. penalty, but; why is there always a but?

A class B fund has to be held 7 years to avoid a 6% fee to cash them out -

Kiss me grits -

[TwoThumbsUp]

I wouldn't, simply because I don't think the market is going to take a dump this fall. If anything, it may just take a dip and rebound within a year. Your rate on your mortgage should be around 3%, and you will make way more than that by leaving it alone.

[KPH]

I would not do it. That is what I have retired on. I just keep on working and paid off the house.

[BamaProud]

I wouldn't, simply because I don't think the market is going to take a dump this fall. If anything, it may just take a dip and rebound within a year. Your rate on your mortgage should be around 3%, and you will make way more than that by leaving it alone.

This.

Think long term...don't worry about what might happen this Fall. Additionally, invest globally, not just in "the market".