Whats up all,
I’m in an fascinating scenario. I make round 200K a yr in New York Metropolis and I’ve been working for six months. Proper now, I’ve 23K saved in my 401K, 20k in brokerage account and round 10K in money. Im doing nicely personally and don’t have many bills moreover hire (2K/Mo). The difficulty is my mother and father are 40k in debt and curiosity on this mortgage is 9%. I wish to assist them repay half the mortgage as quickly as doable since my mother and father make mixed 40k (lcol state) and the curiosity funds are severely handicapping them. I’m contemplating taking out a mortgage from my 401K to do that however I’m additionally occupied with an early withdrawal. What different choices ought to I take into account? I’d additionally wish to maintain some money available in case of emergency (comparable to dropping job I work in fairly unstable business).
