Our situation:
I'm currently retired, but my wife still works part time just for something to do.
Our net worth is over $5mil.
We have retirement savings of +$4.3mil.
Currently take out $135k annually or 3.1% from our retirement accounts.
We have 11 years left on a 15 year fixed rate home mortgage to pay on a balance of $258,000.
I'm wanting pay this off early.
If we take the lump sum out of our retirement to pay this off, it would still leave us with $4.08mil.
To continue taking out $135k would bump it up to still only 3.3% of our retirement accounts.
The only downside that I see to doing this would be the big tax hit for doing this.
So my question is, what would you suggest? An additional $50k for the next five years? Or what?
Submitted September 22, 2018 at 12:12PM by PlannedAhead2 https://ift.tt/2MUMPgr
