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Tag Archives: 403b

I’m Retired and Wonder if I Should Use My Retirement Money to Pay Off Debt. – Karen

Financing a budget

“Dear Steve, I am a 62 year old single woman. I retired in June with a fixed PERS retirement pension and am also collecting my social security pension for a total of annual income of about $64,000. I have about $20,000 left in credit card debt that I have been paying down on a fixed debt reduction plan that I ... Read More »

Should I Take Money Out of My Retirement Account to Pay for a Move? – Sam

retirement

“Dear Steve, My wife and I paid off our debts and we don’t want to go there again. I recently found a better job but it is going to involve significant upfront expenses in terms of move etc which is not paid for by the company. I have a 403b from my current employer with about 20K in it. When ... Read More »

Should I Roll Over My 403(b) to My 401(k)? – Salvador

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5 years in present employer.with GREAT 401k retirement plan … 2 years in previous one with so so plan worked at a place for 2 years with a 403 b retirement plan… there are $2100, right now and for the past 6 years im in a good place with great 401k plan… can I cash out on the previous plan ... Read More »

Should We Use Our Retirement Money to Repay Our Credit Cards? – Deb

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“Dear Steve, we retired early and my husband has retirement from ny state dept of corrections and a 403b with 120,000. we are eligible to take money out of 403 with no penalty we have 52,000 in credit card debt and wonder if we should take the money out of 403b plan as we pay no penalty. recently it is ... Read More »

Can I Take Money Out of One IRA, 401(k), 403(b), or Roth IRA and Roll It Into Another Account? – Dave

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“Dear Paul, Hello, I am unemployed and need money…fast!!. I have several different retirement accounts: With “Investor-A”, I have both, a Traditional IRA & a Roth IRA With “Investor-B” I have both, 401k & 403b accounts (100% vested)… and I also have a SEP-IRA Interesting scheme… do you think this will work..?? I know you cannot borrow from the IRA ... Read More »

Gerri Detweiler and I Talk Honestly About Debt

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Gerri Detweiler and I talked recently via Skype video about debt for a video blog she did for DebtConsolidationCare.com. Below you will find our discussion which surrounded the issues I brought up in my article The Honest and Unvarnished Truth About How to Get Out of Debt. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

Should I Cash Out My 403(b) Since I Switched Jobs? – Jamie

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Should I cash out my 403(b) because I switched jobs? I am a young professional who recently switched jobs. My old job used a 403(b) matching system, to which I contributed for 10 months, my new job does not. My husband and I are starting some other investments with a different company than what my 403(b) is currently with. He ... Read More »

Marriage and Money: How to Talk to Your New Spouse About Finances

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So you’re engaged. Or thinking about it. If you’re really serious about spending the rest of your life with another person, it’s time to get some of the tougher issues out in the open. Somewhere near the top of your list should be MONEY. Conflicts about money issues can stop a relationship before it has a chance to be successful. ... Read More »

Should I Cash Out My 403(b) Retirement Account to Pay Off Credit Cards

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Gwen “Dear Steve, My husband and I have some pretty high debt on our credit cards and as he is self employed the economy has taken its toll on his income. As an educator I have a 403(b) with enough money in it to PAY OFF the credit cards completely. While it is not an ideal situation by ant means, ... Read More »

How to Survive a Job Loss

Example 1

If you’ve ever lost a job, you know how devastating it can be. It doesn’t really matter how you lost it — a company reorganization, merger, forced retirement or simply being fired — the results are the same. It probably feels like everything you’ve worked for is gone, including your income. And because losing a job is often unexpected, you’re ... Read More »

Is It Dumb to Take a Loan From My 403(b) Retirement Account to Pay Off Debt? – Maura

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“Dear Steve, I have $20,000 in credit card debt that I can’t seem to pay down. I have cut up my credit cards and are no longer using them. My interest rates are 8-12%. I am considering taking a loan on my 403B at 4.25% that I pay back to myself. One of the downs falls is if I’m layed ... Read More »

Dude, I Am Totally Freaking Out Over My Debt! – Margaret

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Margaret “Dear Steve, Help! We need serious advice! My husband and I have combined CC debt of almost $50,000. We have never been late on payments, but that is all about to change because we are about to hit rock bottom. In a year we have both watched our credit card scores fall from 748 and 720 each by almost ... Read More »

Will Cashing Out My 403b Negatively Affect My Credit? – Luke

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Luke “Dear Steve, I have a great employer pension, a decent 401k, and a small 403b($7000). I am not worried about retirement. I tried several years ago to combine the 403b into the 401k and was told I could not do that. I have no credit card debt but ridiculous student loans and a car payment. This summer I have ... Read More »

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