Tag Archives: sinking funds

The Benefits of a Mortgage Sinking Fund

My family’s only remaining debt is our home mortgage, and one of our top two or three financial goals is to pay off our mortgage early. For the last couple years we have been throwing some extra payments against the mortgage off an on, without much regularity. We have enough money in savings to make a large dent on the …

Read More »

Is Withdrawal from Roth IRA for Home Purchase a Smart Strategy?

withdrawal from roth ira for home purchase

IRS regulations offer a break to first-time home buyers by allowing withdrawal from Roth IRA for home purchase. Typically, income earned in a Roth IRA can only be withdrawn tax free after the account holder has passed the age of 59 1/2. Non-qualified distributions before that age are charged a 10% withdrawal penalty to discourage investors from withdrawing money outside …

Read More »