Quote:
Originally Posted by pyroguy
trm2 why do you still carry a mortgage? Why not pay the house off and put the mortgage payment into your investments? Imagine what you could do if you had that mortgage payment (minus taxes and insurance) going into a retirement account.
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Because I understand finance (undergrad and grad degrees in finance)
Quote:
Originally Posted by pyroguy
I will 100% give you credit for brining up the point about people who switch jobs cashing out their 401k’s as a bad idea. It is a good idea to do a direct transfer to your own IRA/Roth IRA so you have better control over your money, but cashing it out is a HORRIBLE idea.
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Here it depends also. I will be leaving a job shortly and in essence, cashing out my 401(k). I will be doing a back door Roth IRA conversion, paying tax today and then letting my money grow forever tax-free. Also, a Roth IRA isn’t subject to required minimum distributions in retirement.