View Full Version : What's first 529 or 401k or HELOC


faspina
I have ditch my 401k and the free 25% that my company matches in order to pay down my HELOC, which I used when I bought my house to keep form paying pmi. Still a long way away from getting that payed of.

My dad gave a big gift to my kids 529 to jump start them. Even though my oldest is 10 years away, I feel like I need to make that a priority. As I am 30 years away from retirement.

What should I do first? 401k,529 or HELOC.

ctt
Depends what your balance/interest is on the HELOC, your age, your income, etc...

529 would be on the bottom of the list for me. There are many ways for kids to pay for school.

Tree164
I hope you didn't cash in the 401k.

At the very least keep contributing to the company match and throw the extra to the heloc.

529 can wait until you have the heloc paid off. Then put that money into 529 or retirement funds.

Good luck!