Tag Archives: tax penalty

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 [...]

Tanisha Wants to Cash Out 401K To Get Rid Of Debts.

Tanisha “Dear Steve, I recently recieved $137k into a 401k account from my ex-husband due to a divorce. I’m 35 years old, 2 kids, unemployed stay at home mother for past 8 years. I will receive spousal support until 2012. I no longer own any property or assets and I have $33,000 in credit card [...]