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I’m 46 and a single mother. Should I empty my 401(k) to pay off my house? There’s $128,000 on the mortgage.

The Moneyist Last Updated: May 8, 2023 at 9:19 p.m. ET First Published: May 1, 2023 at 12:06 p.m. ET ‘I currently make good money, and not having to pay a monthly mortgage will help increase my savings’ ‘I have an annual income of $108,000, and other than the house I have no other major
Financial Press

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i’m-46-and-a-single-mother-should-i-empty-my-401(k)-to-pay-off-my-house?-there’s-$128,000-on-the-mortgage.

The Moneyist

‘I currently make good money, and not having to pay a monthly mortgage will help increase my savings’

‘I have an annual income of $108,000, and other than the house I have no other major debt. I owe $6,000 on my car, and about $5,000 in credit cards.’

MarketWatch illustration

Dear Quentin,

I’m a 46-year-old woman, and single mother to a 14-year-old boy. I bought a centrally located house in Miami after the housing market crash in 2010 for $167,000. The house is small but has a big lot in front of it, and I currently owe $128,000. The house is now worth about $400,000.

I have an annual…

In this article:,

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