Ask Terry Questions Mortgage vs cash payment

Mortgage vs cash payment

By Terry Savage on January 03, 2024 | Financial Planning / Retirement

Relocating and looking at taking a mortgage out or paying cash. Paying cash I would need to take some funds from a 403b account. I am 68 and retired and have not yet taken any funds from the 403b account. Any suggestions? Thanks

Terry Says

That’s a tough one. Are you sure you don’t have other choices — perhaps a less expensive purchase, or renting for a few years.
Remember, your 403(b) withdrawal will trigger taxes, and could raise your Medicare Part B and D premiums!
Not to mention costing your future growth of your account.

Please consider another alternative!

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