Mortgage paydown?
We are 66 and 73 years old. We have a $360k mortgage. It is 6.9% interest Should we try to pay it off with our Required Minimum Distribution funds. Or should we put the money in a Money Market to earn interest and just pay the $2300 monthly payment with an extra payment of $1000 toward principal? Thanks. Appreciate you.
Terry Says
YOu need liquidity AND you should try to pay down this mortgage faster. I think Plan B, having enough in a MM fund is smart, while adding that extra $1,000 to principal.
You know that only your spouse is required to take that RMD.
