Anonymous
09/14/2025 07:27
Subject: Financing home purchase in retirement
Anonymous wrote:What are you doing for health insurance?
Not op, but our company allows us to stay on their insurance at our current subsidized rate until we are 65 if you have sufficient years of service (age+years of service = 80). I will hit that at 58, but plan to retire at 62.
Anonymous
09/14/2025 07:19
Subject: Re:Financing home purchase in retirement
If you have that much money You Must have a financial advisor that can help with this.
Anonymous
09/14/2025 07:17
Subject: Financing home purchase in retirement
Idk but this is surely a question for a loan officer.
Anonymous
09/14/2025 05:32
Subject: Financing home purchase in retirement
What are you doing for health insurance?
Anonymous
09/13/2025 22:05
Subject: Financing home purchase in retirement
Anonymous wrote:Stop saving in your 401k. You have too much of your net worth invested in it.
You can borrow up to $50k each against the 401k, i would look into that.
I would seek the advice of a professional as this is quite a complicated issue. The tax implications of taking the money out in one go vs having a higher income later, implications of
This is bad advice.
In wealth management you can borrow against assets (more than 50k) though not sure you have enough to borrow $1m to cover your future home. Talk to the custodian /wealth advisors of your 401k or wherever you hold your assets.
Anonymous
09/13/2025 21:47
Subject: Financing home purchase in retirement
Talk to a banker. They will consider your assets. Will probably require a large downpayment in case you default. Use the current home equity for the downpayment.
Anonymous
09/13/2025 21:46
Subject: Financing home purchase in retirement
Sell now
Rent for few years.
Rent for few years.
Anonymous
09/13/2025 21:31
Subject: Financing home purchase in retirement
Sell the current house and pay cash.
Anonymous
09/13/2025 21:30
Subject: Financing home purchase in retirement
Will you have pension and what’s the timing for SS?
Anonymous
09/13/2025 21:28
Subject: Financing home purchase in retirement
Stop saving in your 401k. You have too much of your net worth invested in it.
You can borrow up to $50k each against the 401k, i would look into that.
I would seek the advice of a professional as this is quite a complicated issue. The tax implications of taking the money out in one go vs having a higher income later, implications of
You can borrow up to $50k each against the 401k, i would look into that.
I would seek the advice of a professional as this is quite a complicated issue. The tax implications of taking the money out in one go vs having a higher income later, implications of
Anonymous
09/13/2025 21:16
Subject: Financing home purchase in retirement
If you don’t know where you want to move, how do you know that you will spend so much?Anonymous wrote:Anonymous wrote:Why not buy it right before you retire (but still working) and get a loan?
OP here—We may not know where we want to buy before we retire. We are still thinking through that part!
Anonymous
09/13/2025 21:15
Subject: Financing home purchase in retirement
Anonymous wrote:We are planning to retire in two years at 59. We should have a net worth of $7.5 million at that point. Over $6 million of that will be in our two 401ks.
We have about $800,000 of equity in our current home. I expect we will buy a new primary residence soon after we retire. I think it might be in the $1.5 to $2.0 million range.
I am starting to think through how we would fund that purchase. We have plenty in our 401k accounts, but I don't think we want to pull it out at once because of taxes. So we just get a mortgage? Can we get a loan against our 401k balances? I don’t want to use all our funds outside the 401ks for the house purchase.
What is your expected sale price of your current home?
Anonymous
09/13/2025 20:59
Subject: Financing home purchase in retirement
Anonymous wrote:Why not buy it right before you retire (but still working) and get a loan?
OP here—We may not know where we want to buy before we retire. We are still thinking through that part!
Anonymous
09/13/2025 20:51
Subject: Financing home purchase in retirement
Why not buy it right before you retire (but still working) and get a loan?
Anonymous
09/13/2025 20:47
Subject: Financing home purchase in retirement
We are planning to retire in two years at 59. We should have a net worth of $7.5 million at that point. Over $6 million of that will be in our two 401ks.
We have about $800,000 of equity in our current home. I expect we will buy a new primary residence soon after we retire. I think it might be in the $1.5 to $2.0 million range.
I am starting to think through how we would fund that purchase. We have plenty in our 401k accounts, but I don't think we want to pull it out at once because of taxes. So we just get a mortgage? Can we get a loan against our 401k balances? I don’t want to use all our funds outside the 401ks for the house purchase.
We have about $800,000 of equity in our current home. I expect we will buy a new primary residence soon after we retire. I think it might be in the $1.5 to $2.0 million range.
I am starting to think through how we would fund that purchase. We have plenty in our 401k accounts, but I don't think we want to pull it out at once because of taxes. So we just get a mortgage? Can we get a loan against our 401k balances? I don’t want to use all our funds outside the 401ks for the house purchase.