To: grania
I’m 50 and hoping to retire at age 70 and a half, when I’m supposed to start withdrawing from my 401(k). So I want to pay my mortgage off early, so I’m putting in extra principal payments. The more mortgage I can pay off now, the more I can save later after I own the house free and clear.
(Don’t worry, I am still contributing to my 401(k).)
47 posted on
04/22/2017 1:53:26 PM PDT by
Tolerance Sucks Rocks
(April 2006 Message from Dan: http://www.dansimmons.com/news/message/2006_04.htm)
To: Tolerance Sucks Rocks
You can start withdrawing from your 401K without penalty at 59 1/2.
50 posted on
04/22/2017 1:59:32 PM PDT by
AppyPappy
(Don't mistake your dorm political discussions with the desires of the nation)
To: Tolerance Sucks Rocks
FWIW, I had a window of opportunity to pay off my mortgage and car payments. I never looked back. It's so much easier to stretch a paycheck or pension when you're debt free.
You're doing it right. Savings are nice to have, but they aren't collecting interest. Better to pay of the house, car and other loans and avoid paying interest to the banks. When that's done, put what used to go to paying off those debts into savings.
60 posted on
04/22/2017 2:47:54 PM PDT by
grania
(only a pawn in their game)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson