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Reply to "Cashing out 401K to payoff mortgage"
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[quote=Anonymous][quote=Anonymous]OP, this is a catastrophic idea. If you feel pinched now, consider never being able to retire.[/quote] +1. MIL has lived beyond her means for a long time and has the credit card debt and lack of retirement savings to show for it. Now she is in her late 60s and being laid off. Social security is not enough to live on and she may have to declare bankruptcy. And we may end up supporting her. OP, if you are making 300K a year and feeling this financially stressed, you are living beyond your means. Sell the house and rent or buy something cheaper. [/quote]
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