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re: Question on taking out Roth IRA money to buy a house
Posted on 4/16/15 at 1:31 pm to Tigerfan56
Posted on 4/16/15 at 1:31 pm to Tigerfan56
The extra $11K is going to save you $50/month. Consider what that $11K could be worth in 30 years if left in the Roth, then think about whether it's worth it to you or not. Financing $11k over 30 years only amounts to $17,905.65 over the full 30 years at 4% interest. Do you think that $11K would be better served tied up in your house or in your Roth?
If it was me, I wouldn't touch the Roth unless I was fixing to lose my house or something, but it's really whatever you think is best for you.
If it was me, I wouldn't touch the Roth unless I was fixing to lose my house or something, but it's really whatever you think is best for you.
1
Posted on 4/16/15 at 6:28 pm to LSUGUMBO
If I could upvote your post 10 times, I would.
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