Tag Archives: retirement funds

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

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 [...]

Should I Cash in my 401K to Get Out of Debt? – Mona

Mona “Dear Steve, We just finished building our home (we were the contractors). Before we started we had very manageable debt and our credit scores were almost 800. We used a construction to permanent loan(5.5%) and credit cards to build our home. Now that we are finshed we have a $255,000 mortgage and owe $85,000 [...]

I’m Draining My SEP Retirement Funds to Keep Up My Credit Score. – Diana

“Dear Steve, At over 50 with excellent credit score and lines; self-employed for 25 years until recent couple of years (digital age/economy caused inability to rebound thus far), and after a nasty divorce over 5 years ago (which started the debt cycle – he dragged me through court), and a relo back home to Michigan [...]

Christine Writes And Asks Me “Should We Liquidate The IRA to Pay Off Debt?”

“Dear Steve, We have about $35,000 in current debt not including a home that is not finished. We have about $120,000 in IRA money. We own $75,000 in real estate free and clear that is for sale but not sold yet. Should we liquidate some of the IRA money to help out our debt? Christine” [...]