Latest Posts
Home > Reader Questions > Should I Cash Out My Roth IRA to Payoff Student Loans and Credit Card Debt? – Zac

Should I Cash Out My Roth IRA to Payoff Student Loans and Credit Card Debt? – Zac

I’m 31 years old with a Roth IRA worth about $35,000. I started this IRA when I was 20 while serving in the Marine Corps over seas. Since it’s birth I have fed the IRA about $38,000. My wife and I made it through school now oweing a little over $20,000 in school loans. We have $6,000 in credit card debt. And I need a vehicle soon. We both work and would like to have children soon.

Should I cash out this Roth IRA? I feel angry everytime I see the statement since it was over $60,000 less than 3 years ago. I heard countless speaches about the advantages of starting an IRA at a young age but my money would have done better under my matress.

Thanks,
Zac

It’s time to put debt behind you and start dreaming about your life after debt. – Click to Tweet

The Answer

This reader question was submitted for site members to answer.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question. Post your response in the comments section below.

If you have a credit or debt question you’d like to ask just use the online form.

Should I Cash Out My Roth IRA to Payoff Student Loans and Credit Card Debt?   Zac
Get Out of Debt Guy – Twitter, G+, Facebook

Should I Cash Out My Roth IRA to Payoff Student Loans and Credit Card Debt? - Zac by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.