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Steve Coker, CFP
- Nov 4, 2019
- 3 min
Why You Shouldn't Pay Off Your Mortgage With Your IRA
Paying off the mortgage is a noble goal and is a great idea for most Americans. Having a ‘mortgage burning’ or ‘debt free scream’ is a freeing event that brings peace of mind knowing that you own the roof over your head. However, while paying off the mortgage is a noble goal, retirees should think twice before pulling a lump sum out of an IRA to finish off the mortgage. In this article, we’ll walk through the numbers to show why it is almost always better to leave the IRA