Should I cash out my IRA to significantly reduce my credit card debt? [more inside]
$10,000 available to borrow from a pension plan, and $10,000 in credit card debt. [more inside]
My partner and I need to pay off some debt, and unfortunately we need to dip into our retirement funds. Our tax accountant is on vacation and we can't find the answer to our question. We have two sources–either sell some stock or cash out a couple of short-term IRA CDs. Which is the lesser of two evils? [more inside]
I want to close out my 401k (and pay the necessary taxes) so I can pay off some debt. My 401k says I'm not allowed. Why not? Can I change anyone's mind? [more inside]
Should I cancel my life insurance policy and use it to pay off most or all of my consumer debt? [more inside]
Should I use a hardship withdrawal for my 401K to pay down/off my credit card revolving credit debt? The total debt is over $200K.
I am 57. I do not anticipate retirement for another 10 years or so. I have approx $100k in the 401K that I can access.
I know that there are IRS penalties for such a withdrawal but my thought was it is better to pay off the debt now and build the 401k back up.
So, should I withdraw or not?