Re: To pay off or not to pay off
Originally Posted by
fireman1953
I will be retiring 11/29 from USPS
. I have my primary mortgage (payments $892/mo. due to be paid off 4/2018, balance of around $36,000) and a 2nd (payments $337/mo. due to be paid off in about 10 years, balance of around $23,000). I have been debating doing a partial withdrawal from my TSP to pay one or both of these off. The APR on both loans are higher than my historical return rates. I am also aware of the tax implications on partial W/D. Comments, ideas, suggestions all welcome.
no don't do it. let the bank carry the risk. with the higher interest rates coming, your money in the bank will be making money. if your money is in the house u will make nothing and if values drop u will be in negative cash flow.
"Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798
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