Next year, I will have to begin drawing an RMD from my IRA of about $8K. Currently, I have money in a brokerage account that yields 4.8% interest and pays dividends monthly. My wife and I have a similar account in our joint non-qualified brokerage account. We have a mortgage with a remaining balance of $107K @ 3.2% and we are paying extra to retire the mortgage sooner. I don't need the money that I must withdraw next year, so my question is:
Should I wait until the last minute to take the RMD in order to get as much interest and then apply it to the mortgage, thus reducing the principal or simply transfer the money into our other money market fund in our joint account so it will continue to earn 4.8%?
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