Reply To: Divorce – buying out the ex

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#155951
SherrieL
Participant

I would sell the house, hand him half the proceeds, rent or buy something cheap and get out of the entire mess. In many cases, borrowing against the 401K is not going to give you the amount you need, the amount borrowed is probably capped at well less than the 135K you need (aside from other considerations like if you lose your job having to repay the $$ in a lump) At 59. you probably don’t have minor children living in the house, so uprooting them isn’t an issue. Do NOT get into an emotional battle over “it’s MY home dammit!” It is a thing, and things can be replaced. If you cannot afford the arrangement, you may not be able to afford living there, period. Do not allow sentiment for the house to cloud your judgment over what is best for you in your approaching retirement years.