Considering Using Retirement Fund for Mortgage and Home Improvements

Sunday, 7 April 2024, 15:00

Discover whether it's wise to withdraw funds from your retirement investment to pay off mortgage and renovate your home. As retirement fund faces losses and home values increase, with retirement fund balances ranging $85,000 to $90,000, weighing the option against a $34,000 home loan balance and $20,000 renovation costs becomes crucial. Make informed decisions given retirement status.

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Considering Using Retirement Fund for Mortgage and Home Improvements

Should we take out money from our retirement investment fund to pay off our home loan and make improvements? Retirement fund is losing money and home values are going up.

Financial Details:

Retirement fund balance: $85,000-$90,000
Home loan balance: $34,000
Home improvements cost: $20,000

We are both retired and...

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.