Reply to Second home purchase - Where do I take the money from?

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[quote=Anonymous]Here's a tough question which I know won't be easy to answer based on what little information you have on my situation. I realize I may have to talk with a professional regarding this. I'm currently retired at age 55 with a substantial government pension which I easy live off including having an excess of about $3,000. each month. Both my wife and I have guaranteed medical for life through my ex-employer. We are also mortgage free after paying off our house several months ago.

Putting aside the question of whether or not to buy a vacation/second home, I'm not sure where to take the down payment funds from with my various investments/accounts. The amount I'm looking at is something like $90,000. to $100,000. for a $400,000. home purchase. (20% down plus extra's) I realize taking funds from investment accounts is all taxable. Any thoughts or suggestions would be appreciated.

My current holdings which I could take funds from are:

$450,000. from a 457 deferred compensation account (taxable) - Basically a 401 account for government employees

$100,000. from my personal investment account of various stocks and mutual funds

$300,000. in cash from various bank accounts.

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