Should i Take Money Out of My 401k to pay off my mortgage? This is a common question that we get, and usually when it comes to paying off a mortgage early, I am not going to tell someone not to pay it off.
However, it is important to understand the reality here. Does your home go up or down in value based on how much money you have in your home? No! So, your home's equity is not tied to the amount your home is or isn't paid off.
And what about the 401k? Should I use my 401k to pay off my home early? well, the only way that makes sense is if you are a stock market genius and you somehow time the top of a market before the crash. Otherwise, the fees will probably kill you.
Let's look more into should i pay off my mortgage early using my 401k and find out more about this with Dan Thompson and Wise Money Tools.
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I have been involved in financial planning for over 36 years. I started out as a high volume stockbroker. After working with millions of dollars I decided there had to be another way for people to earn money in the market without all the risky ups and downs that leave you where you started, or worse. After reading a ton of books I came across a book on the Infinite Banking Concept and it completely changed my life and the way I view investments.
Now I focus on building wealth using a tool we developed by leveraging life insurance.
This way we can get:
Double Digit returns
Keep you money safe
Keep your money liquid
Create substantial passive income
Leave a legacy for you family
And do it all Tax-Free!
I post videos regularly so if you have any questions of comments feel free to email them to...
dan at wisemoneytools dot com
11 сен 2024