I have a credit card bill of 30,000 and I am paying 500 a month interest- I have the money in my 401k - should I take it out and paythe bill
Fr_Chuck
Aug 29, 2011, 06:53 PM
Are you considering a loan from your 401K, if so, you can borrow the money from it, and pay it back at a much lower interest. I would not withdraw the money if you are underage and have to pay the penalty ( plus the taxes)