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      • Dave Ramsey: Pay off home equity loan? May. 29, 2013

        Dear Dave,
        I’m retired, and I have $400,000 in an IRA that’s earning 10 to 12 percent. The only debt I have is $20,000 on a home equity line of credit, and my home is worth $500,000. Should I pay off the home equity loan using funds from my IRA?
        Janet
        Dear Janet,
        Wow, you have a half-million dollar home on the line for only $20,000? There’s no way I’m going to have a $500,000 asset pledged for that kind of money. No way! If I were in your shoes, I’d pay off the loan today.

        The Sun-times - Heber Springs, Ar
        By Dave Ramsey
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