Should You Use Your 401(k) to Pay Off Your Mortgage?

Описание: In the first episode of the Friday Q&A series,I address a viewer's question about whether to pay off their house before retirement. The husband is close to retirement and considers using his ESOP to pay off their recently purchased home. I discuss the pros and cons of this decision, including tax implications and the importance of maintaining liquidity.

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Website: https://www.rivertreewealth.com
LinkedIn:   / jacobduke  

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

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DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

00:00 Introduction
00:22 Question: Should We Pay Off Our House?
01:09 Evaluating the ESOP Option
01:40 Tax Implications of Using ESOP
02:16 Considering Part-Time Work
02:57 Understanding the Mortgage Situation
03:06 Interest Rates and Amortization
03:24 Evaluating the Decision to Pay Off the Mortgage
03:38 Considering Cash Flow and Liquidity
04:39 Transitioning to a New Lifestyle
05:04 Tax Implications and Strategic Planning
05:37 Final Thoughts