Elizabeth L. asked
My financial advisor advises against liquidating my 401k to pay off a $40k credit card debt, citing it as financial suicide. However, the finance charges on the credit card are higher than the penalty for withdrawing from the 401k. Should I consider liquidating my 401k to pay off the credit card debt, and is there a calculator tool to help with these calculations?
December 20th, 2024
Nathan J. answered
The decision to liquidate your 401k to pay off credit card debt involves considering both the immedi...
December 20th, 2024
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