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Tag Archives: cash out ira

Should We Drain What’s Left in the IRA to Pay The Mortgage? – Susan

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“Dear Steve, My husband has a IRA account that he had transferred from his previous job, and it was not much. We took money out last year to keep our heads above water. Now we are down to only $15,000.00 in our account. We see losses everyday, and we need the money now to survive. He had cuts in his ... Read More »

    Cashing In IRA Early to Payoff Debt. – James

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    “Dear Steve, I recently got married and our combined debt load is significant, but manageable. I am able to put a little into savings each month, and I do have a small emergency fund. I am 30 years old and have been putting into my company 401k for more than 7 years. I am currently putting in 6% of my ... Read More »

      Should I Cash Out My IRA to Pay Debt? – Greg

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      Due to 2 sequential layoffs, 3 kids in/out of college and “life”, we have amassed about $80k in cc debt, and $180k in college loans. We have no mortgage, wife makes $40k, and we get $12k/yr from a rental house we own free and clear (worth $200k). Primary House is worth $400 k and we own our cars. I am ... Read More »

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

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        “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 »

          Should I Use My IRA to Pay Off My Debt? – Donald

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          “Dear Steve, I have had this thought to reduce our debt and to better manage our finances. It is quite complicated (as I am sure most situations are), so I will do my best to present all the information. My wife and I (we are in our mid 30s) have a credit card with $7k on it and two personal ... Read More »

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