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Updated over 6 years ago on . Most recent reply

User Stats

17
Posts
2
Votes
Ahkeem Smith
  • Rental Property Investor
  • Easton, PA
2
Votes |
17
Posts

Is buying your first home at the age of 55 smart?

Ahkeem Smith
  • Rental Property Investor
  • Easton, PA
Posted

So my mom is closing in on her retirement and she's never owned a house before. My fear is that she'll have to work longer just to maintain her mortgage payments well after retirement. She planned on using money from her retirement account for a down payment, which also made me nervous. Is there a way she can use her 401k retirement money to purchase a few safe investments FIRST to build her asset portfolio so that all of her money isn't tied into just one house? 

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