I have a mortgage on my house. Am I better off paying the house off before retiring or putting more in my 401K sooner?
I would like to retire in the next 5 years, so am looking for the right combination of savings vs paying off debt sooner.
Answers | 2
The big drawback is if you lose your job and must pay back your 401K loan. But that can be done by taking another mortgage. But it will be lower than it would have been by not doing this.