Paying off car lease with Roth IRA?
I am unemployed. My spouse works. We only have 16k in an account.
I am going to buy a car I have been leasing. It will cost me $17,000.
Since interest rates are so high, I’m thinking of taking the $17,000 out of my Roth IRA. I don’t want to do this. But since I am in my 60s, I won’t have to pay taxes.
I will still have just about $700k in all my investments.
I also plan on putting the $17,000 back in investments once I get a job and sell off things.
Does this sound like a reasonable way to go about paying off the car?
original posted by UMeTheyThem to r/personalfinance on Thu, 29 Feb 2024 21:58:46 GMT.