Retirement Dilemma: Spend 401(k) on Home?


I’m about to retire and want to raid my 401(k) to buy a home: ‘Am I out of my mind?’

It is a common dilemma among those approaching retirement – should they invest their money and continue renting, or should they use their 401(k) to purchase a home outright? This decision can be a difficult one.

Older Americans will spend 12 years living with disability or disease – why are we so unhealthy?

While Americans may be living longer, it is concerning that the quality of life is not improving. Older Americans are facing an average of 12 years living with disability or disease. This raises questions about our overall health and well-being.

Not just for rich people: 6 ways we’re messing up inheritances.

Retirement presents an opportunity to have important conversations about wealth transfers and to start “giving while living.” Inheritances are not limited to the wealthy, and it is crucial to approach them with careful planning.

My husband and I have $6 million in retirement and zero debt. What do you recommend for the couple who has everything?

When you have substantial retirement savings and no debt, the possibilities are endless. It is important to seek advice on how to best utilize your assets while ensuring long-term financial security.

Forgot why you walked into the room? Here’s why that happens and when you should worry.

Memory lapses are common, but when they become frequent or severe, it may be a cause for concern. Understanding the reasons behind forgetfulness can help determine if further medical attention is needed.

I want to leave my job and tap into my $2.1 million 401(k) plan at age 55 – should anything stop me?

Leaving a job early and accessing your 401(k) at age 55 can seem appealing, but it is important to consider potential consequences. Before making any decisions, it is crucial to evaluate the long-term implications.

Opinion: 5 things to consider if you plan to die at home.

For those considering end-of-life care at home, there are important factors to take into account. Planning ahead and addressing these considerations can ensure a comfortable and meaningful experience.

These bonds are perfect for retirees – and are paying twice their historic average.

Retirees often seek safe investment options that provide steady income. Bonds can be an attractive choice, especially when they offer higher returns compared to their historical averages.

The cost of healthcare is out of control, hurting programs for the elderly and the vulnerable.

The rising cost of healthcare has far-reaching effects, especially for programs targeted at supporting the elderly and vulnerable populations. Finding solutions to control these costs is crucial for the well-being of individuals and society as a whole.

More in retirement news:

  • Today’s Workers Expect 20% of Their Retirement Income to Come From Social Security. Here’s Why That’s a Good Thing (Motley Fool)
  • How to Align Strategies for Student Loans and Retirement (Kiplinger)

Retirement Savings Insights

Research and Insight:

  • Lines Between Work and Retirement Are Blurring, Research Finds (PlanSponsor)
  • Is the Current Retirement Income System ‘Inadequate?’ The Data Has an Answer (ASPPA)
  • Employers failing to prepare for retirement, research finds (HR Magazine)
  • How to Prepare for Disruptors to the Retirement Savings Industry in 2024 and Beyond (Yahoo Finance)
  • State Automated Retirement Programs Would Reduce Taxpayer Burden From Insufficient Savings (Pew)

Beneficial Reads for Family, Friends, and Clients:

  • Not all people over 90 are depressed; here’s what you should know when it comes to the oldest generation and their mental health
  • Medical tourists seek cheaper healthcare and dental treatments, but there’s plenty that can go wrong
  • 4 challenges of LGBTQ+ retirement planning, and what to do about them
  • Do children get 529 accounts in a divorce? My in-laws opened two plans for our kids, but their marriage is on the rocks.
  • Our older son, 37, is an artist and puts $1,000 a month on our credit card. Our other son, 35, is self-sufficient. Is that unfair?
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