No. of Recommendations: 0
<<what do you
fools think of the idea of cashing in enough IRAs ( I'll be 59 1/2 soon) to pay cash for the house?>>

Hi Blaycat, let me add my "welcome", also. Although I rarely contribute to this folder, I lurk occasionally, because my husband is just two years behind you and will soon face some of the decisions you're mulling over.

Owning a home outright has always been anathema to me (a complete contradiction to what my Depression-era parents strived to accomplish). But my generation was taught to worship the mortgage deduction. Suddenly there's all kinds of good articles about why retirees might want to pay cash for their home, but your reasoning is the first that really made sense to me.

As you put it, the cost of your home becomes that safe conservative 40% or so of your portfolio that indirectly increases your income by 7% by not having to make mortgage payments. Hmm... I think I like it :-)

Please keep us posted on what you decide!

Cheers,

Jeanie

Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.