2035
Recycles dryer sheets
- Joined
- Jan 9, 2012
- Messages
- 214
Okay folks, I can't believe I'm going to do this, but I'm going to take a little money from a retirement account to put a down payment on a townhome.
My intention is to take the money from my Roth to avoid taxes, but I almost wonder if it's better to do the 401(k) because the Roth has served as an emergency fund ( I know, I know, I'm working to fix that as we speak).
If it matters for anything, I'm looking for townhomes well below the max of what I can afford, so after I close, I'll be able resume full maxing out of my 401(k) and Roth, plus non-retirement account.
Assets:
401(k): $125k
Roth: 27k ($18k can be withdrawn, but my emergency fund will be gone).*
New Brokerage Acct: $1k
* this assumes I take the money out this week. For every month I wait to buy, I can reduce the amount I'll borrow by $1,700 (due to temporary decrease in retirement contributions). Interest rates are unpredictable and the market is getting crazy again (bay Area) so I hope to find something in the next two months.
Advice from experience is greatly appreciated.
My intention is to take the money from my Roth to avoid taxes, but I almost wonder if it's better to do the 401(k) because the Roth has served as an emergency fund ( I know, I know, I'm working to fix that as we speak).
If it matters for anything, I'm looking for townhomes well below the max of what I can afford, so after I close, I'll be able resume full maxing out of my 401(k) and Roth, plus non-retirement account.
Assets:
401(k): $125k
Roth: 27k ($18k can be withdrawn, but my emergency fund will be gone).*
New Brokerage Acct: $1k
* this assumes I take the money out this week. For every month I wait to buy, I can reduce the amount I'll borrow by $1,700 (due to temporary decrease in retirement contributions). Interest rates are unpredictable and the market is getting crazy again (bay Area) so I hope to find something in the next two months.
Advice from experience is greatly appreciated.