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Should you cash in your 401k early to get out of debt?

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βˆ™ 2006-09-02 23:33:44

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Generally a very bad idea. You will lose a significant portion of the 401K principal to taxes and penalities for early withdrawal. Also, you are eliminating all future income in retirement. Have you considered taking a loan from your 401K?

2006-09-02 23:33:44
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Q: Should you cash in your 401k early to get out of debt?
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