<p>Hi to all the money and tax experts. Here's the situation: We have some mutual funds in a taxable account and have been hesitant to cash any portion in for college. Our retirement accounts are maxed now (401 and 403 not IRA) but for a long time weren't so this taxable money is also headed to retirement. As a result we do a very fine juggling act each day/week/month to make ends meet with daily expenses and monthly college bill. In addition we have a home equity line of credit that was used for a car and a month or 2 of tuition. Next fall we will have 2 in college so those baseline financial forms are on the horizon. </p>
<p>Would it be wise to pay off the home equity with a mutual fund account proceeds? We would reduce our assessts by doing that but also increase the amount of home equity available. Would another plan be to take the taxable money and put that in ROTH IRA's. I know the logical answer is to seek the advice of tax accountant but I'm just making a general inquiry here. </p>
<p>Thanks!</p>