Comments on: Is it wise for me to use roth Ira to pay off debt rather than debt settlement or consodlidation? http://www.forrentorsaleinbelgrade.com/debt-settlement/is-it-wise-for-me-to-use-roth-ira-to-pay-off-debt-rather-than-debt-settlement-or-consodlidation Sun, 05 Feb 2012 19:39:30 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: John LaGrange http://www.forrentorsaleinbelgrade.com/debt-settlement/is-it-wise-for-me-to-use-roth-ira-to-pay-off-debt-rather-than-debt-settlement-or-consodlidation/comment-page-1#comment-1387 John LaGrange Tue, 09 Mar 2010 10:48:59 +0000 http://www.forrentorsaleinbelgrade.com/debt-settlement/is-it-wise-for-me-to-use-roth-ira-to-pay-off-debt-rather-than-debt-settlement-or-consodlidation#comment-1387 Step #1 to financial health is to eliminate all debt!!! You should always start off with any savings, if savings are exhausted and you cannot afford monthly payments to eliminate debt then you should use your Roth, contributions are always accessible regardless of age without penalty, but be careful because interest is not tax free until 591/2. Once your debts are eliminated you will have freed up cash flow to begin contributing again to your Roth. Note, if your investments are yielding less than the interest expense of your debt than you are moving backward, so pay them off and start moving forward. Don't look back!! For more information visit my website at www.vanbureninsurance.org. I<br><b>References : </b><br>ABC's of getting out of debt; irs.gov Step #1 to financial health is to eliminate all debt!!! You should always start off with any savings, if savings are exhausted and you cannot afford monthly payments to eliminate debt then you should use your Roth, contributions are always accessible regardless of age without penalty, but be careful because interest is not tax free until 591/2. Once your debts are eliminated you will have freed up cash flow to begin contributing again to your Roth.
Note, if your investments are yielding less than the interest expense of your debt than you are moving backward, so pay them off and start moving forward.

Don’t look back!!
For more information visit my website at http://www.vanbureninsurance.org.
I
References :
ABC’s of getting out of debt; irs.gov

]]> By: madamsmall http://www.forrentorsaleinbelgrade.com/debt-settlement/is-it-wise-for-me-to-use-roth-ira-to-pay-off-debt-rather-than-debt-settlement-or-consodlidation/comment-page-1#comment-1386 madamsmall Tue, 09 Mar 2010 10:17:59 +0000 http://www.forrentorsaleinbelgrade.com/debt-settlement/is-it-wise-for-me-to-use-roth-ira-to-pay-off-debt-rather-than-debt-settlement-or-consodlidation#comment-1386 Depends on what you are expecting for your future. No matter what, debt settlement is a bad idea, because it will end up costing you far more in the long run than just paying it off now. You should be able to withdraw your money from the IRA tax free I believe, since you're over 55, but are you going to have any money left to live on if you drop your retirement on bills?<br><b>References : </b><br> Depends on what you are expecting for your future. No matter what, debt settlement is a bad idea, because it will end up costing you far more in the long run than just paying it off now. You should be able to withdraw your money from the IRA tax free I believe, since you’re over 55, but are you going to have any money left to live on if you drop your retirement on bills?
References :

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