Is Using a 401k or IRA to Pay Off Credit Card Debt a Bad Idea?

Debt.com
6 min readApr 14, 2020

When credit card debt causes problems for your budget, you may consider withdrawing money out of your 401k or IRA. If you have money sitting in a retirement account, it can be tempting to use it to overcome your challenges with debt. But how much will that delay your retirement and is it worth the penalties you’ll typically face?

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