When I receive a question about cashing out the 401k to pay off debt, my short answer is generally no. The longer answer is still no as a general rule, but it may be a consideration in some very limited circumstances. Here's the rationale behind not cashing out the 401k. Sure, it may be tempting … Continue reading Should You Cash Out Your 401k Early to Pay Off Debt?
Tag: 401k
Why Can’t I Just Rely On Social Security For My Retirement?
For nearly two generations, Americans have come to see the Social Security program as the default retirement plan for when we end our time in the workforce. Since 1935, Social Security has provided retirees with a set amount of money each month, based on what they had to pay in during their working lives. Nearly … Continue reading Why Can’t I Just Rely On Social Security For My Retirement?