This week, Mike discusses a listener question regarding taking money out of an IRA to pay off a mortgage:
- tax considerations
- longevity of being in the house; ROI
- consider your risk tolerance
He then continues with some other IRA strategies and considerations:
- Other reasons to take money from IRA
- Use caution if someone wants you to use your IRA as collateral for a loan vs. using it to secure an unsecured loan
- Watch for the red flag of advisors telling you specific percentages of returns they can get
- How upcoming tax legislation could affect IRA rollovers and withdrawals