PawPrint53
Recycles dryer sheets
- Joined
- May 25, 2012
- Messages
- 194
I did search the forum to see if this question had been asked, but couldn't find anything that matched our situation. We owe about $37K on our rental home that will be our residence next September when DH retires. The mortgage rate is 5 1/8%. I tried to refinance a while ago, but nobody was interested in such a small loan and a HELOC didn't work out either. We currently rent an apartment in another state from our two rentals (one paid off, which will continue being a rental).
We're funding DH's Roth and my spousal Roth to the max plus a 401(k) that does not have a match. We believe we'll be in a lower tax bracket when retired so the 401(k) works to reduce taxes now. With savings and throwing the Roth money at the mortgage, we could pay it off by the time we move into the house. I just don't know if that's a good idea or not. Any thoughts? Thank you.
We're funding DH's Roth and my spousal Roth to the max plus a 401(k) that does not have a match. We believe we'll be in a lower tax bracket when retired so the 401(k) works to reduce taxes now. With savings and throwing the Roth money at the mortgage, we could pay it off by the time we move into the house. I just don't know if that's a good idea or not. Any thoughts? Thank you.