1st let me start by stating I am new to this great community. I was downsized from my position at age 61, currently 66 yrs old.
I opted to start collecting SS at age 62, started receiving monthly checks from retirement annuity, and rolled my 401k over to Vanguard. My wife has a few more years to work..she contributes to employer matched 401k.
Question to those wiser than me...
We are looking to do some home remodeling (house is fully paid for) and buy new car soon. Should I consider withdrawing money from my 401k account or should we look to finance purchases thru credit union/bank ? I know there are a lot of variables that come into play, but I am looking for path(s) to proceed down from those that have already "been there, done that".
I opted to start collecting SS at age 62, started receiving monthly checks from retirement annuity, and rolled my 401k over to Vanguard. My wife has a few more years to work..she contributes to employer matched 401k.
Question to those wiser than me...
We are looking to do some home remodeling (house is fully paid for) and buy new car soon. Should I consider withdrawing money from my 401k account or should we look to finance purchases thru credit union/bank ? I know there are a lot of variables that come into play, but I am looking for path(s) to proceed down from those that have already "been there, done that".