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173 - Should I Dip into My Retirement Accounts to Purchase a Home?
Published 3 years, 7 months ago
Description
Scott and James discuss if you should dip into your retirement accounts to purchase a home.
Listener Question:
Should I max out all of our retirement accounts and consider taking a loan against my 457b or take out contributions from my Roth IRA in order to make a sizeable down payment for this second home in the future? Or should I allocate a portion of that savings money into a brokerage account instead for 10 years to save for this down payment? I am leaning toward taking a loan/Roth contribution instead of brokerage due to 1) tax benefits 2) simplicity and 3) because I view it as essentially "diversifying" my retirement by putting that money toward a lakehouse.
Planning Points Discussed
- Utilizing Time Efficiently
- Capital Appreciation
- Purchasing Power
- Other issues (IRAs, Inflation, Financial Goals, etc.)
Timestamps:
2:30 - We're on YouTube HERE!
4:15 - Listener Summary
6:35 - Insurance Needs
10:32 - Different Goals & Priorities
14:30 - When To Make a Purchase
17:19 - Property Growth
20:35 - Aligning Your Financial Goals
LET'S CONNECT!
James
Scott
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