Retire debt free or get a boat loan

[The Garbone]

Originally Posted by gcaskew

I would be taking a $250000 lump sum out of my pension. This would still leave me plenty to live well on but would reduce my monthly draw by $1200 for the rest of our lives. Or finance a boat for 15 years and have it paid off and then have the $1200 from the payments till we die, also saving some on taxes.
We will be 53 when we retire soon.
Either way my monthly pension will be hit for $1200 - $1500 a month, but by financing after the boat is paid for the old boat payment amount stays in my account.

Those be some odd numbers.

I will be in close to the same place in 7 years when I am 51. With penalties for being under 65 and limits on what can be put in Roth IRAs don't see 1/4 mill on a hole in the water as a good choice.

At $1200 a month with a house in the world I would be going on a Catalina 30 not a 45 ft catamaran.

I would get a new adviser.