Tag Archives: cash out ira

Should We Drain What’s Left in the IRA to Pay The Mortgage? – Susan

“Dear Steve, My husband has a IRA account that he had transferred from his previous job, and it was not much. We took money out last year to keep our heads above water. Now we are down to only $15,000.00 in our account. We see losses everyday, and we need the money now to survive. [...]

Cashing In IRA Early to Payoff Debt. – James

“Dear Steve, I recently got married and our combined debt load is significant, but manageable. I am able to put a little into savings each month, and I do have a small emergency fund. I am 30 years old and have been putting into my company 401k for more than 7 years. I am currently [...]

Should I Cash Out My IRA to Pay Debt? – Greg

Due to 2 sequential layoffs, 3 kids in/out of college and “life”, we have amassed about $80k in cc debt, and $180k in college loans. We have no mortgage, wife makes $40k, and we get $12k/yr from a rental house we own free and clear (worth $200k). Primary House is worth $400 k and we [...]

I Was Wondering if it Would Make Sense to Liquidate Part of our IRA and Pay Off the Mortgage? – Ken

Ken wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]

Should I Use My IRA to Pay Off My Debt? – Donald

“Dear Steve, I have had this thought to reduce our debt and to better manage our finances. It is quite complicated (as I am sure most situations are), so I will do my best to present all the information. My wife and I (we are in our mid 30s) have a credit card with $7k [...]