Should I Cash Out my 401K to Pay Off My Credit Card Debt. – Taneah

“Dear Steve,

I am a 27 yr old single working mother and I have appr 25K in 401k funds. I also have appr 15K in credit card debt that is making it tough to pay monthly bills. At this age, should I consider cashing out my 401K and paying my ccard debt off.

I also have to consider that my daughter recently had trauma to her head and the doctor bills have yet to come in. I own two rental homes and have one car payment. Other than that, I have no debts. Please advise

Should I cash out my balance in 401K to pay off credit card debt?


Follow Me
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
Steve Rhode
Follow Me
See also  I Can't Afford My New House. - Tim

Comments are closed.