Tag Archives: individual retirement account

Should We Settle Our Debt By Taking Money Out of Our IRA? – Laura

“Dear Steve, My husband and I currently have 45,000 in credit card debt between 3 companies (5 cards). I lost my part time job last year, and since November we have been unable to make the minimum payments. We are now at 120 days late and we don’t know what our options are, or what [...]

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 [...]