Matthew J. Ure

RMA
Personal Finance, Retirement, Investing
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“The whole is greater than the sum of the parts- when all parts of a financial life are put together properly, incredible value is captured! ”
Firm:

Anthony Capital, LLC

Job Title:

Vice President

Biography:

Whether your question is about social security draw age, balancing risk and return in an investment, tax planning, or which strategy you should use to cover long term care needs, your chance for success improves dramatically with accurate information. Matthew believes his role is to guide clients through these trade offs using various tools, experience, and his training as a certified Retirement Management Analyst which centers every decision on improving retirement outcomes using math and science. 

Matthew has become an expert in optimizing the financial lives of public and private sector employees.   Several years ago, recognizing a huge need for benefits education and basic financial planning, he teamed up with The Society for Financial Awareness to offer workshops, seminars, and private consultations with a goal toward education. This collaboration has given thousands of public and private sector employees access to fiduciary advice while requiring no minimum investment amount. This educational approach that focuses on the best interest of the person has created millions in dollars of value for the attendees and their families.  

 He is a well know presenter in San Antonio and surrounding areas having taught hundreds of seminars touching on subjects ranging from debt solutions, investing, Social Security, pensions, insurance, and other financial topics. 

Being the 8th of 11 children- Matthew has real life experience in financial planning as he put himself through college, graduating from Brigham Young University with no debt and money in the bank.  He speaks fluent Thai and enjoys traveling whenever occasion permits. His personal life centers around being a father to 3 boys and husband to a beautiful and creative wife.

Education:

Brigham Young University

Assets Under Management:

$14 million

Fee Structure:

Fee Only

CRD Number:

6444268

Insurance License:

#1974612 TX

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    Debt, Financial Planning, Retirement, Pensions, 401(k)
Should I take advantage of Rule 55 and use my 401(k) to pay off my mortgage when I turn 55 and start my new job?

There are 2 big considerations in answering your question: How much risk do you feel comfortable taking with your retirement funds and how comfortable are you with debt?

Let's look at why these questions are key to giving you the best answer.  If you are comfortable enough to weather down markets and probable losses, then you would be able to invest in something with a better return than the 3% you're paying the bank. This means for example, that if on the $260,000 you are getting 7% from a balanced mutual fund on average ($18,200 year) and only paying the bank 3% ($7,800 year in interest), the remaining 4% ($10,400 a year) goes into your pocket. Pretty good idea to not pay it off it seems...  but this is where question #2 comes in. 

For the more conservative, or those looking for simplicity, it still might make sense to pay it off as it is one less thing to worry about. In your case, because you plan to travel it might make sense because you will not be around to fix payment issues, etc. Given that you don't plan to retire fully until age 62 however, it might be better from a tax standpoint to pay off the remaining $260,000 over a period of several years rather than all in one as anything drawn will be added to your usual income tax for the year. 

One example of how this could look would be to take your maximum allowable interest each year in a Substantially Equal Periodic Payment plan which is about $39,000 a year in your case and you use that to pay off the house at an expedited rate. This gets your house paid off by 62 but doesn't jump your income tax to astronomical rates.  This is just an educational example- please consider chatting individually with a licensed professional before committing to any moves with your money.

Please let me know if you would like to discuss this in further detail.

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