Ask Experts Questions for FREE Help !
Ask
    ana188's Avatar
    ana188 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 29, 2011, 04:24 PM
    Paying a bill from 401k
    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's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    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)
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Renters paying water bill [ 2 Answers ]

Does a tenant that lives in New Jersey have to pay a water bill for an apartment?

Paying a bill to a vendor in quickbooks [ 4 Answers ]

How do I check off what bills are associated with a check that I wrote to vendor?

View more questions Search