Situation:
Married, combined income around 120k
Remaining mortgage around 47k @ 4.5apr
Around $50k split between two 401k accounts (down about 15k so far...)
If they pass the legislation to remove the 10% penalty, would pulling the 401ks and applying to the mortgage be the right move? My rough estimate is that we'd end up paying out around 15k in additional taxes next year, but I'm not sure if I've calculated that correctly.
Is this too risky?
Update: the general consensus is that yes, it is too risky. Thanks for the input.
Also: here is a link to an article with some details: https://www.cnbc.com/2020/03/23/congress-may-let-you-take-100000-from-your-401k.html
Submitted March 26, 2020 at 04:49PM by silent_dooker https://ift.tt/2UllcUF
