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 … Read more

I Want Bank of America to Leave My Interest Rates Alone. – Debbie

“Dear Steve, I have overextended on my home equity line my condo is not worth the money now. I have been working overtime as much as possible to keep paying bills I borrowed 10,000 from my 401k to cover some of the debt and 5,000 each from 2 friends of mind now the interest rate … Read more

Substitute Teacher Lives in Shelter Instead of Paying Rent. – Tim

“Dear Steve, My Brother-in-Law is deeply in debt. He was laid off from work 6 years ago and hasn’t found a decent job since. He isn’t very smart when it comes to money and lived off his savings until it was all gone. He is now 60 years old, has several thousands of dollars on … Read more

Would it be Wise to Pull the Cash Out of the 401k and Pay Towards Our Debt? – Brandy

Brandy “Dear Steve, I am 30 and my husband is 40.We have 27,000 in his 401k (we have lost almost 10,000). We dont have much as far as credit cards but we are drowing in a house payment, 2 Vehicle payments (1300 per month) and a payment on a rental property that we are unable … Read more

Jami is Worried About Losing Money in Her 401k And Wants Options

Jami “Dear Steve, I’m losing money in my 401k. I left my 401k in my ex-employers plan. I started at $73000.00 and now it is down to $47,500. I really want to get it out of there but I have no idea where to put it. Can you offer any ideas? Jami” Dear Jami, I … Read more

I’ve Never Participated in My Companies 401(k). – Steve

“Dear Steve, I am 40 yrs old and have been working at the current corporation for about 10 years now. I have not participated in the 401K plan(they do not contribute or match at all). I feel like i am the only one there who doesnt. Now everyone probably have some decent money towards retirement … Read more

I’ve Liquidated My Savings, Checks and CDs But I’m Still in Debt. – Jennifer

“Dear Steve, I currently have liquidated all my assets (savings, checking, CD’s) and have not tapped into my 401(k) yet. I am newly employed at a school district and make $32,275/year. I am now living paycheck to paycheck. My current debt is car loan of $10,943 at an interest rate of 5.5% and monthly payment … Read more

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 … Read more

I’d Like to Cash Out My 401K, Get a Home Equity Loan and Reinvest it in an IRA. – Rik

Rik “Dear Steve, Hi Steve, you’re a good guy for helping so many people. We have $90,000 credit card debt all at %25, about 1/3 from unwise spending, the rest from medical bills, and taxes we couldn’t pay due to medical bills. I have been fighting minimum payments for years and years and can’t do … Read more

Should I Cash Out my 401K to Pay Off Debt? – Anna

“Dear Steve, I am currently a stay at home mom and my husband is working outside the US. Our monthly income is $13,000/mo. And our revolving debt is listed below: Home Mortgage – $340,376.98 – 2,098.82 Line of Credit 191,529.48 – 568.53 Credit Card 1 10,088.49 – 336.00 Credit Card 2 15,865.05 – 343.00 Credit … Read more

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

Steve wrote me through the GetOutOfDebt.org 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 … Read more