OK, this has been explored numerous times, but we'd like to share some data and see how folks here would handle our state of affairs.
DH - 68 yr old retired six years
DW - 66 yr old retired six years
DH - Taxable IRAs $500,000 Roth IRA $85,000
DW - Taxable IRAs $270,000 Roth IRA $65,000
Use three Vanguard Funds - Conservative Growth, Managed Growth and Dividend Growth - AA approximately 60/40 Stock/Bond
SS DH $27,000 DW $10,000 DH Pensions $13,500 = $ 50,500 income
$ 50,500 is sufficient for annual expenses.
Assets - Home $260,000
HELOC $ 80,000 - currently at 5.75 - tied to prime
Given the tax rates on income, we will obviously be using the standard deductions in 2018.
We never carried debt in the past, and the loan is just a pain to look at.
1) Draw down 10k - 20k per year from IRA to pay off the loan?
2) Take it all from Roth and pay it off all at once.
DH will have do start mandatory draws from IRA in two years, which will be close to $ 20k
DH - 68 yr old retired six years
DW - 66 yr old retired six years
DH - Taxable IRAs $500,000 Roth IRA $85,000
DW - Taxable IRAs $270,000 Roth IRA $65,000
Use three Vanguard Funds - Conservative Growth, Managed Growth and Dividend Growth - AA approximately 60/40 Stock/Bond
SS DH $27,000 DW $10,000 DH Pensions $13,500 = $ 50,500 income
$ 50,500 is sufficient for annual expenses.
Assets - Home $260,000
HELOC $ 80,000 - currently at 5.75 - tied to prime
Given the tax rates on income, we will obviously be using the standard deductions in 2018.
We never carried debt in the past, and the loan is just a pain to look at.
1) Draw down 10k - 20k per year from IRA to pay off the loan?
2) Take it all from Roth and pay it off all at once.
DH will have do start mandatory draws from IRA in two years, which will be close to $ 20k