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Tag Archives: retirement

I’m 69 And Lost My Job But I Want to Pay My Debts. – Chuck


Chuck “Dear Steve, I am 69. lost my job of 15 years 6 months ago. Am on SS and work odd jobs when I can. Have 56,000 credit card debt, Was ok while working but now am 6 months behind on large accounts, have been struggling to keep others current. I called credit repayment plan and was told I would ... Read More »

Can the Creditors Force My Mother to Sell Her House? – Leigh Anne


My step-father recently died and my mother is living on disability and now only a small portion of his social security and retirement. He only has 41K left in retirement. The company he worked for went bankrupt. She has no other income. They have a house payment which she can still make. She can afford her utilities and groceries with ... Read More »

Should We Cash Out the 401k to Pay Off the Mortgage? – Lorriell


Lorriell “Dear Steve, My husband and I are Mid-30′s and have been married and investing heavily for 16 years. We are watching our investments plunge. We owe $126K of $194K mortgage. No other debt. We are locked in at 4.75% refi. but wondering if cashing in one of 401K would be better. Wondering about the tax advantages/disadvantages. We are no ... Read More »

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


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 »

Maria Writes In “How About Staying In The Stock Market?”


Maria “Dear Steve, This is not a debt question – it’s about staying in the stock market with all the current turmoil? Will you still answer it? Maria” Maria, So much of what happens in the stock market is not based on logic or research, but innuendo, gossip and emotion. Just because the stock market is wildly gyrating at the ... Read More »

My Husband and I Are Just Barely Making the Minimum Payments. – Janet


“Dear Steve, My husband and I have about $40,000 in credit card debt. We are just barely making the min. payments. Right now the interest averages about 7.99%. Part of this 40,000 is due to purchasing a used truck in December and charging the 12,000. on a card at 5.99% until Oct 2009. In addition to the credit card debt ... Read More »

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


“Dear Steve, I have lost my job due to a so-called “voluntary” early retirement program. I am looking, but have yet to land another job, and at 55 I dont think my chances are great of making anywhere close to what I was making in my last job. Our children are grown and on their own, and our only debt ... Read More »

How Can We Pay Off Our Debt and Put Kids Through College and Save for Retirement? – Bill


“Dear Steve, I have just turned 50 and my wife will be 49 in two months. We currently have roughly $177,000 in unsecured debt, mortgage for $183.000 on our home, a Home Equity Line of Credit for $50,000 and a loan of $64,000 against some acreage. We also have two car payments that total $575 per month but these loans ... Read More »

I’m Retired and Do What I Want at 49.

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“Dear Steve, I lost my job in 2007 at the beginning of this downturn and I am still unemployed. I am almost 59 years of age. Which I believe is why I am not being hired. My spouse WAS planning on retiring in March 09. We have two homes. Our original plan was to sell one and move to the ... Read More »

San Wants To Know “We Need Some Way To Pay Off Our Debts”


“Dear Steve, We need some way to figure out how to pay our debts off. We have credit card debt, car loan, a home equity loan that has a balloon next year, medical bills and owe a balance to my brother for his half of property we inherited jointly. We have two incomes and we should be able to live ... Read More »

Should I Cash Out My 401K to Pay Off My House? – Carol


“Dear Steve, I lost my job. I am 65 years old and have a401k for $17000.00. Should I cash in my 401K to pay off my house. Carol” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click ... Read More »

Steve Writes In “I Want to Cash Out My 401(k) And Pay Off Debt.”


Steve wrote me through the site to ask his question below. You can too! “Dear Steve, I currently make $46,000.00 per year with no benefits. My wife’s income is $19,800.00 per year. Three years ago her income was $35,000.00 per year. We have racked up about $20,000.00 in credit card debt and have a car loan of which the ... Read More »

75% of Americans Will Work as Long as Possible to Make Ends Meet


A new study released by Bankrate, Inc. shows that the vast majority of working Americans plan to work as long as they can during retirement age, showing a redefinition of how Americans view traditional retirement plans. The poll, conducted by Princeton Survey Research Associates International, is included in the new Bankrate Financial Literacy series on Retirement Income, which can be ... Read More »

My Husband Was Forced Into Retirement and I Only Get Social Security. – Susan


Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and advice in the comments section of the original question. Click here. “Dear Steve, They retired my husband this year so he ... Read More »

Should We Pay Off Our Mortgage? – Andy


Andy “Dear Steve, I am 62 years old and had planed to retire in 3 – 3 1/2 years. With the ecomonic problems today my wife and I are thinking aobut taking $29000.00 out of my 401K and pay off our mortgage. I am still employed but things have really slowed down. So don’t know what year end will bring. ... Read More »

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