<prompt> Human: My wife turns 62 this November. She has a 401K with a current balance of 124,600. The balance of our mortgage is about the same. Wed like to payoff the mortgage with her 401K to lower our bills by 950mo. Would this be a wise thing to do? If so, what should we know about the process?  <response>: Just note, if your mortgage balance is the same as the balance of her 401k, you will not have enough to pay it off as the money you are pulling from the 401k is going to get taxed making the assumption it is not a Roth 401k. 