Recently have realized that our debt management plan is not helping us as we hoped. Are looking into other options to help process our debt more efficiently.
We have been discussing our retirement funds that we left intact in Wisconsin when we moved. My husband is considering pulling the funds and reinvesting them in more sound strategies. Using part of the funds to pay down our debt considerably. We are wondering due to the flux of the economy if this is wise as well as if this is a good option to assist with our debt. Thank you!
I am not a fan of taking retirement funds out to deal with debt. It’s easy to take those funds out but very hard to replace them to get yourself back in the current investments you are in now.
It seems we have two issues here. The first is the funds may not be performing as you hoped. That’s a simple matter of reallocating them for a better return.
The second issue is the draining of the account to, I assume, either pay off the debt or pursue some debt settlement approach.
Because of the limited information I really think the best approach is for you to schedule a consultation with my debt coach friend
Please post your responses and follow-up messages to me on this in the comments section below.