{"id":206496,"date":"2018-03-22T08:00:10","date_gmt":"2018-03-22T15:00:10","guid":{"rendered":"https:\/\/americanretirementadvisors.com\/?p=206496"},"modified":"2018-03-14T11:38:53","modified_gmt":"2018-03-14T18:38:53","slug":"financial-tip-march-2018","status":"publish","type":"post","link":"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/","title":{"rendered":"Financial Tip March 2018"},"content":{"rendered":"<p>[et_pb_section bb_built=&#8221;1&#8243;][et_pb_row][et_pb_column type=&#8221;4_4&#8243;][et_pb_text _builder_version=&#8221;3.0.101&#8243; background_layout=&#8221;light&#8221;]<\/p>\n<p><strong>\u201cI just want to take money out of my 401(k) and pay off my house.\u201d <\/strong>That\u2019s what I hear quite a few of my clients say. Well, there\u2019s a lot to be said about getting rid of one of those monthly nuts we have to crack. But, is it always the best move? Sometimes\u00a0there are a couple of other more attractive choices. Remember, everyone\u2019s needs are different and the following advice may not be right for you.<\/p>\n<p>If you bought your home when interest rates were down or were able to refinance at one of those great rates, lucky you! For you, not paying off your home may be better. Look at it this way. If you take money out of a qualified retirement plan like a 401(k), IRA, or cash balance pension, you will pay tax on the full amount withdrawn. If you fall into this income category ($77,401 &#8211; $165,000), married filing jointly, your tax rate will be 22%. If your interest rate on your mortgage is 4%, you\u2019re 18% behind. Now, if you could safely earn 4%, guess what? Now you\u2019re ahead of the game. Now you get to earn interest on your money, earn interest on the interest, and earn interest on the money that you are not handing over to the IRS because a chunk of your mortgage payment is tax deductible.<\/p>\n<p>Now, the attractiveness of this is not quite as good when you get closer to the end of the mortgage because you lose most of the tax write-off. At that point, consider a payoff. I\u2019ve always told my wife; if I go before you, don\u2019t use the life insurance money to pay off the house. Invest the money, safely, and use it to continue making the mortgage payments.<\/p>\n<p>In future articles, I\u2019ll talk about the pros and cons of a federally-insured reverse mortgage. Have a great March!<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p><div class=\"et_pb_row et_pb_row_0 et_pb_row_empty\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div> \u201cI just want to take money out of my 401(k) and pay off my house.\u201d That\u2019s what I hear quite a few of my clients say. Well, there\u2019s a lot to be said about getting rid of one of those monthly nuts we have to crack. But, is it always the best move? Sometimes\u00a0there [&hellip;]<\/p>\n","protected":false},"author":7126,"featured_media":206476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[111],"tags":[],"class_list":["post-206496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-american-retirement-advisor-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>American Retirement Advisors 800-568-1095 Expert Advice<\/title>\n<meta name=\"description\" content=\"American Retirement Advisors, David P. Schaeffer, Retirement Advisor, Retirement Defender, Insure your savings, Save your Savings from Wall Street. IRA, Annuity, 401k, Safe Savings, Never lost a penny of my clients money EVER\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Marc Frye\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/\"},\"author\":{\"name\":\"Marc Frye\",\"@id\":\"https:\/\/americanretirementadvisors.com\/#\/schema\/person\/9d6bcbbc21e6d0ce3b670b9c97d58414\"},\"headline\":\"Financial Tip March 2018\",\"datePublished\":\"2018-03-22T15:00:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/\"},\"wordCount\":352,\"publisher\":{\"@id\":\"https:\/\/americanretirementadvisors.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2018\/03\/Financial-1.jpg\",\"articleSection\":[\"The American Retirement Advisor Blog\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/\",\"url\":\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/\",\"name\":\"American Retirement Advisors 800-568-1095 Expert Advice\",\"isPartOf\":{\"@id\":\"https:\/\/americanretirementadvisors.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/americanretirementadvisors.com\/financial-tip-march-2018\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2018\/03\/Financial-1.jpg\",\"datePublished\":\"2018-03-22T15:00:10+00:00\",\"description\":\"American Retirement Advisors, David P. 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