Tag Archives: borrow from ira

Should I Use Half My IRA Debt to Pay Off My Debt? – B

“Dear Steve, I have about $9400 in credit card debt which has an interest rate of 25.66% ! I have about $4700 in an IRA account. I made about $ 70K last year but I am single with no dependents so I don’t have many exemptions and have alot of taxes taken out of my [...]

Is Taking Money Out of My IRA to Pay Off Credit Card Debt a Smart Thing to Do? – Sarah

“Dear Steve, I have about 25k in my IRA and about 2k in my 401k. I owe about 11k on credit cards and every month I go more into debt because I make less money then all of my bills. If I were to pay off my credit cards, I would have enough money to [...]