wrichards58
Recycles dryer sheets
- Joined
- Jul 13, 2012
- Messages
- 60
We are going to be cashing out our UL policy which is 219,000 Taxes are on the policy is 56,000. We are working with our tax guy so we do not go up into the next tax bracket. So this is the deal..we have a home equity loan of 68,000 and our house loan at 125,000
both interest are around 4.875 and 4.99 We really want to pay off the home equity at 68,000 (4.99) but the question is...do we pay off the house or put the money in investments. We are planning to put the house on the market next spring. Our insurance guy is trying to talk us into an annuity...but I say not a good idea......... we are 58 ...... Husband plan in Jan 2015
money for retirement is
400,000 in 403b hoping before retire 500,000
12,000 Roth
wife pension will be 18,000 (COLA)
ss 200
husband pension 43,000 (no COLA)
ss 24,000
both interest are around 4.875 and 4.99 We really want to pay off the home equity at 68,000 (4.99) but the question is...do we pay off the house or put the money in investments. We are planning to put the house on the market next spring. Our insurance guy is trying to talk us into an annuity...but I say not a good idea......... we are 58 ...... Husband plan in Jan 2015
money for retirement is
400,000 in 403b hoping before retire 500,000
12,000 Roth
wife pension will be 18,000 (COLA)
ss 200
husband pension 43,000 (no COLA)
ss 24,000