Mary and Bob have been married for 25 years. They are both college professors. M

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Mary and Bob have been married for 25 years. They are both college professors. Mary (50 years of age) makes $65,000 annually and Bob (60 years of age) makes $75,000 annually. Their oldest daughter is getting married. Bob and Mary would like to either 1) take out a second mortgage on their home (they can get an interest rate of 7 percent) or 2) withdraw funds from their IRAs or 3) sell their rental property. The cost of the wedding is $35,000.   The equity in their home is $150,000; they have $80,000 in IRAs between the two of them and the basis of the rental property is $20,000. The rental property can be sold for $120,000. Mary and Bob want to know how they should finance the wedding and if tax implications will be a factor. Write a memo explaning your action.

I need this written as a memo.

Facts:

Issues:

Authoritites:

Conclusion:

Analysis:

Explanation / Answer

i will give suggestion to choose 2nd option to withraw money from iras

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