I am deeply concerned about my retirement.
I,m 50 years old.
I am married with 2 childern and are below the age of seven.
My wife workes part time earning 12k per year and I earn 74k per year.
I have a 380k 30 year mortgage with 29 years left on it, which I desire to payoff as soon as possible.
I have 260k in retirement. My total networth is 490K.
I have two rental properties with negative cash flow.
One has a 15 year mortgage with 9 years left til it is paid off and the other is a 30 year mortgage with 27 years left on it.
I am moving 200k from my retirment to a self directed Real Estate IRA to buy more rentals.
And I am looking at utilizing the accelerated mortgage program with a HELOC loan to pay off everything.
I want the retire with at lease 2.5 mil before age 62.
Is it possible..
Please Help!!!
I,m 50 years old.
I am married with 2 childern and are below the age of seven.
My wife workes part time earning 12k per year and I earn 74k per year.
I have a 380k 30 year mortgage with 29 years left on it, which I desire to payoff as soon as possible.
I have 260k in retirement. My total networth is 490K.
I have two rental properties with negative cash flow.
One has a 15 year mortgage with 9 years left til it is paid off and the other is a 30 year mortgage with 27 years left on it.
I am moving 200k from my retirment to a self directed Real Estate IRA to buy more rentals.
And I am looking at utilizing the accelerated mortgage program with a HELOC loan to pay off everything.
I want the retire with at lease 2.5 mil before age 62.
Is it possible..
Please Help!!!