Getting a loan, would you?

m1903a3 · 08-06-2018, 01:56 PM

I would and I did. I wanted to buy a very expensive Navy which I would likely never have another chance to own. I had no mortgage, car loans or credit card debt. I didn't want to take an IRA distribution because it would have been taxable income and it was also appreciating where it was. Financially, a low interest rate loan was by far the most logical choice. Don't regret it for a second. Now that I'm over 70 my mandatory distributions just go to pay the loan faster.

08-06-2018, 01:56 PM	#14
m1903a3 User Join Date: Aug 2008 Location: Virginia Posts: 199 Thanks: 26 Thanked 320 Times in 113 Posts	I would and I did. I wanted to buy a very expensive Navy which I would likely never have another chance to own. I had no mortgage, car loans or credit card debt. I didn't want to take an IRA distribution because it would have been taxable income and it was also appreciating where it was. Financially, a low interest rate loan was by far the most logical choice. Don't regret it for a second. Now that I'm over 70 my mandatory distributions just go to pay the loan faster. __________________ - Mike Life member: NRA, OVMS, VGCA Member: NAPCA, N-SSA(Veteran) Si vis pacem, para bellum