You should never, ever, EVER cash in pre-taxed retirement savings early to get out of debt. You will get hit with penalties that will just put you in the hole more, and you will have lost your investment and the potential income with that for later in life.
No, it is a terrible idea. By cashing it in early, you will end up with a bunch of penalties for withdrawing it early and will end up even further in debt because of it. You will also lose the investment itself basically.
No! You sholdn't cash in pre-taxed retirement savings to get out of debt, because you will have penalties for taking out the savings, resulting in another load of debt.
No, it is a very bad idea. The penalties you'll be required to pay are not worth the small amount of money you'll receive. It's so much wiser to wait until the time when you're allowed to withdraw your retirement savings because you won't be required to pay the penalties and you'll have more money from the account at that point.
You should never pay off debt with pre-taxed retirement savings. If you do then you will have to pay penalties and you will end right back where you started, plus you won't have any retirement money anymore.
NOOOO!!!! If you take it out early that money will be gone and you will have to pay for the penalties for that.... so you will basically have less money than what you started out with....
You should never, ever, EVER cash in pre-taxed retirement savings early to get out of debt. You will get hit with penalties that will just put you in the hole more, and you will have lost your investment and the potential income with that for later in life.
ReplyDeleteNo, it is a terrible idea. By cashing it in early, you will end up with a bunch of penalties for withdrawing it early and will end up even further in debt because of it. You will also lose the investment itself basically.
ReplyDeleteNo! You sholdn't cash in pre-taxed retirement savings to get out of debt, because you will have penalties for taking out the savings, resulting in another load of debt.
ReplyDeleteNo, it is a very bad idea, you lose tons of money by the penalties the give you for withdrawing early. you lose a whole lot of money that you put in.
ReplyDeletedon't ever cash your retirement to get out of debt you will get slapped with early withdraw fees and will end up with a horrible to no retirement
ReplyDeletetravis
No this is a very bad Idea the penalties that you will encounter will hurt you more then they are worth.
ReplyDeleteadam
No, it is a very bad idea. The penalties you'll be required to pay are not worth the small amount of money you'll receive. It's so much wiser to wait until the time when you're allowed to withdraw your retirement savings because you won't be required to pay the penalties and you'll have more money from the account at that point.
ReplyDeleteNope, nope, nope, nope! The penalties you will have to pay won't be worth it.
ReplyDeleteAutumn
You should never pay off debt with pre-taxed retirement savings. If you do then you will have to pay penalties and you will end right back where you started, plus you won't have any retirement money anymore.
ReplyDeleteNo sir! If you take it out early not only will that money be gone but you'll have to pay the penalties for it.
ReplyDeleteeyezik
NOOOO!!!! If you take it out early that money will be gone and you will have to pay for the penalties for that.... so you will basically have less money than what you started out with....
ReplyDeleteNo this is a bad Idea because the penalties that will happen will affect you way to much.
ReplyDeleteno you should never take out the money early because it will mess up your investment and give you horrible penalties.
ReplyDelete