You get 50k dollars tax free no catch what do you plan to do with it?

  • blarghly@lemmy.world
    link
    fedilink
    English
    arrow-up
    8
    ·
    6 days ago

    Or they could just mean they would pay down the house, which can be a big financial boon, even if not completely paid off. If you are in the US and have a normal 30 year fixed rate mortgage, then paying down 50k means you get to save on the remaining interest due on that 50k - so you don’t just save 50k, but the compounding interest due on that 50k across the remaining liftime of the loan.