Should I Use My Mutual Funds To Pay Off My House?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 24 September 2021

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, John Delony, and George Kamel.

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:12.2	All right, Justin is in Mason City, Iowa.
0:16.9	Hi, Justin.
0:17.9	How are you?
0:18.9	I'm good.
0:19.9	Thank you for taking my call.
0:21.3	Sure.
0:22.3	How can we help?
0:23.3	I have a question.
0:25.0	I have, I'm Dev3, my wife and I are Dev3.
0:29.5	I finally paid off my student loans after listening to your show and now waiting for the government
0:35.7	bailout.
0:37.7	So I did that, but my question is we have a mortgage still and we owe 152,000 on our
0:47.0	mortgage and we have some mutual funds that we could take money out of the mutual funds,
0:53.6	but we're worried about the tax bill on the mutual funds coming towards income.
1:00.3	Well, how long have you had the mutual fund?
1:03.9	In December, it will be considered long term gain.
1:09.1	And so that would be, there would only be a 15% tax, right?
1:12.9	Right, right, right.
1:14.9	And how much of the money, how much is in the mutual fund?
1:19.1	We have about 400,000.
	...

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