46m/47f
Household income: ~ $180k L/MCOL
Investments:
Tax deferred: $755K
Roth: $275K
Taxable: $67K
Contributing: $45.5k to tax deferred and $12k Roth this year
Morgtage: $50K outstanding @2.75 (7.5 years remaining) / House value ~ $225k
Car Loans: $6510 @ 2.29% (15 months remaining) / $1250 @ 0% (5 months remaining)
Cash: $25K
Credit Cards: Paid off monthly
We need to do some repairs on our house that will likely cost $20-$30k. I’m considering taking a loan against my 403(b) to cover the costs. I’d adjust my allocation so the loan was in lieu of bonds to try to minimize the opportunity cost.
Job is secure. If something unexpected were to happen I’m sure I would be able to pay off any remaining balance and avoid the tax ramifications.
Terrible idea?
Household income: ~ $180k L/MCOL
Investments:
Tax deferred: $755K
Roth: $275K
Taxable: $67K
Contributing: $45.5k to tax deferred and $12k Roth this year
Morgtage: $50K outstanding @2.75 (7.5 years remaining) / House value ~ $225k
Car Loans: $6510 @ 2.29% (15 months remaining) / $1250 @ 0% (5 months remaining)
Cash: $25K
Credit Cards: Paid off monthly
We need to do some repairs on our house that will likely cost $20-$30k. I’m considering taking a loan against my 403(b) to cover the costs. I’d adjust my allocation so the loan was in lieu of bonds to try to minimize the opportunity cost.
Job is secure. If something unexpected were to happen I’m sure I would be able to pay off any remaining balance and avoid the tax ramifications.
Terrible idea?