Distribution of IRA
(Montgomery county, PA )
I purchased an investment property for retirement 2 years ago. I paid 50% and carried a mortgage for the remaining 50% . With the way the economy seems to be going, does it make sense for me to withdraw the money from my IRA (I'm 59 years old) and pay off the mortgage?
WOW.. that is way over my head! There are too many issues to be able to answer something simply.
What I suggest, find a FEE ONLY financial planner. That way, you take all your income and assets into them, and get a one time evaluation from them. End of story.
Other financial planners invest your assets for you, which is fine too -- but if you are looking for answers only, someone really needs to look at your whole financial scenario to assure you are doing the right thing.
It really is a scary retirement world out there!