Not having enough money to pay your mortgage means making some tough choices. One choice that some homeowners find themselves pondering is whether or not they should take money from their retirement savings to make their mortgage payments.
Taking money from your retirement account is a big decision with serious consequences. Whether it's a good or bad idea for you depends on how much retirement savings you have and what's causing you to have trouble paying your mortgage.
When Spending Retirement on Mortgage Makes Sense
Taking a withdrawal from your retirement account to pay your mortgage could make sense if you have a ton of money in your retirement account and are experiencing a temporary hardship caused by a one-time expense.