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Tag Archives: cash out retirement

Spouse suffers from severe depression. Should I cash out IRA funds to get mortgage to a manageable amount? – Sue

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My husband suffers from severe depression and has lost 2 jobs in the last 2 years leaving me financially vulnerable. I need to plan my finances as if I were the only one bringing in an income. I have 2 children…1 in college with tuition costing me $25,000/year. I currently own a home worth $330,000 with an outstanding mortgage of ... Read More »

    Should We Use Our Retirement Money to Repay Our Credit Cards? – Deb

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    “Dear Steve, we retired early and my husband has retirement from ny state dept of corrections and a 403b with 120,000. we are eligible to take money out of 403 with no penalty we have 52,000 in credit card debt and wonder if we should take the money out of 403b plan as we pay no penalty. recently it is ... Read More »

      I Just Turned 26. Should I Liquidate My 401K to Pay My Debt.

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      Carie “Dear Steve, Steve, I just turned 26 and currently have $5,700 in a 401K from a job I recently left (for a new one). I make about $38K per year and have $11K in credit card and $3K in car debt. I am getting married in April of next year and will probably add another $10K to my debt ... Read More »

        Is There a Way to Get Out of Debt Without Lowering Your Credit Score? – Lisa

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        “Dear Steve, I went to college and received my PhD. I have been unemployed for 1 1/2 years. I have a credit card debt of $22,000 and student loans at $80,000. I have read that there is a way to reduce the credit card debt but I am concerned it would destroy my credit rating (802). I have worked hard ... Read More »

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