Using Your IRA to Pay off Credit Card Debt
You feel like you’re drowning in credit card debt. And while you can’t squeeze anything more out of your paycheck, you may have a tidy sum sitting in an individual retirement account (IRA). Sure, those funds are supposed to stay untouched until you retire. But that’s a long way off. Might it be a better move to use all or part of your IRA to get those high balances off your back? Read on to find out more about the implications of using retirement funds to pay off credit card debt.