The Motley Fool: Mortgage Versus Retirement

By The Motley Fool, Houston Chronicle: Business
Tue, 09/19/2017 - 5:03pm

Ask the Fool Pay mortgage with your IRA? Q: I'm thinking of paying off my mortgage with money from my IRA. Should I? - B.C., Greensburg, Pa. A: Think twice about it. With a traditional IRA, if you're younger than 59 ½, withdrawals will be taxed at your ordinary income tax rate, and you'll face a 10 percent early withdrawal fee, too.

Topics: fool mortgage ira tax rate interest income

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The Motley Fool: Mortgage Versus Retirement

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