Fireup2020
Thinks s/he gets paid by the post
- Joined
- Feb 5, 2007
- Messages
- 1,250
My housemate/landlord asked for my advice and I suggested I post her question here for addition input:
She owns three rental properties (two with regular tenants, and she rents out two rooms here in her home) Discounting rents received to cover mortgages and misc. business expenses, the numbers here are strictly for her personal finances (and her share of the household expenses here.)
All numbers have been rounded to make this easier:
Monthly expenses (personal) - $1500
SS: $750
Rental income: $750
She has approx $200K in pension/401K that she is not withdrawing from.
There is a $22K debt (daughter got married in England in April )that is currently at 0%, but the rate ends in October 2007.
Would it be wise to withdraw $22K from pension/401k accounts to just pay off the debt?
Would you put $10K (emergency fund) in a MM account? (Currently just sitting in a savings account)
Thank you in advance for your opinions/advice.
She owns three rental properties (two with regular tenants, and she rents out two rooms here in her home) Discounting rents received to cover mortgages and misc. business expenses, the numbers here are strictly for her personal finances (and her share of the household expenses here.)
All numbers have been rounded to make this easier:
Monthly expenses (personal) - $1500
SS: $750
Rental income: $750
She has approx $200K in pension/401K that she is not withdrawing from.
There is a $22K debt (daughter got married in England in April )that is currently at 0%, but the rate ends in October 2007.
Would it be wise to withdraw $22K from pension/401k accounts to just pay off the debt?
Would you put $10K (emergency fund) in a MM account? (Currently just sitting in a savings account)
Thank you in advance for your opinions/advice.