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Originally Posted by biscuitgirl
Hi all. We’re looking for a professional to advise on taking withdrawals from our savings to fund retirement.
We’ve always made our own investment decisions and feel pretty comfortable with that. But we have a few big-ticket items coming up with the house, as well as day-to-day expenses, and I’m struggling to figure out when and from which accounts to take money to minimize tax impacts. Thanks.
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If your income comfortably exceeds your expenses, a Line-Of-Credit might work for you.
The interest rate might be high, but the actual cash outflow is (relatively) minimal
Pledge your assets as collateral.
'Borrow' 75-80% with an LoC.
Pay Monthly Interest Only on any cash/advances you take on the LoC. from your excess income.
Pay off the principal over time with your excess income or the sale of any non-producing assets.
Over time, you owe nothing and have retained your assets and your income.
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