I plan to retire at 55 next year and don't know what to do about a a second mortgage at 9.35 percent. Is it better to make withdrawals from my government 401K (TSP) to payoff the 2nd or to take a lump sum for the portion I need and pay the taxes. The taxes will be about 28% federal and 5 percent state. Of course the interest on the second is tax deductable and the TSP is tax defered. I addition, growth will occur in the TSP.I tend to think that equal withdrawals from the TSP makes more sense but I haven't found a calculator to do the math.
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