sheldon cornped
Recycles dryer sheets
- Joined
- Mar 26, 2011
- Messages
- 221
Age: 67
Mortgage: $300k @ 3.6% 25 yrs remaining. $1565/mo. payment
Annual guaranteed income sources (SS, pension): 105k plus 35k dividend income.
Sources:
Cash - 100k
Tax deferred investments: 1.7 mm
Taxable investments: 2.8mm
In taxable, about 1mm has a higher cost basis (thus lower cap gains tax) and the remainder has a lower cost basis (higher cap gains tax)
AA is about 82/17/1
Am thinking about taking 50k from cash, and selling 290k of stock from higher cost basis taxable holding. This would cover the payoff of remaining 250k mortgage and satisfy the 40k owed in cap gains taxes. Would you pay off this mortgage this way, some other or not at all? Thank you.
Mortgage: $300k @ 3.6% 25 yrs remaining. $1565/mo. payment
Annual guaranteed income sources (SS, pension): 105k plus 35k dividend income.
Sources:
Cash - 100k
Tax deferred investments: 1.7 mm
Taxable investments: 2.8mm
In taxable, about 1mm has a higher cost basis (thus lower cap gains tax) and the remainder has a lower cost basis (higher cap gains tax)
AA is about 82/17/1
Am thinking about taking 50k from cash, and selling 290k of stock from higher cost basis taxable holding. This would cover the payoff of remaining 250k mortgage and satisfy the 40k owed in cap gains taxes. Would you pay off this mortgage this way, some other or not at all? Thank you.