Iím retired, and I have $400,000 in an IRA thatís earning 10 to 12 percent. The only debt I have is $20,000 on a home equity line of credit, and my home is worth $500,000. Should I pay off the home equity loan using funds from my IRA?
Wow, you have a half-million dollar home
on the line for only $20,000? Thereís no way Iím going to have a $500,000 asset pledged for that kind of money. No way! If I were in your shoes, Iíd pay off the loan today.
Youíre obviously a smart lady. Youíve got an IRA thatís busting it, and this little loan is the only thing standing between you and complete financial freedom. But that loan
represents risk you donít need in your life. I know you probably havenít been lying awake at night worrying over it, but youíre going to have a wonderfully weird experience when you knock this thing out. A wave of peace is going to wash over you, and youíre going to feel lighter and more liberated than ever before.
Your retirement isnít at risk, and it wonít cost you much money. Pay it off today, Janet, and discover the true meaning of financial peace!