Posted on: 11th Jan, 2011 11:16 am
I am find myself at 32 years old unemployed due to my position being eliminated. I didn't have savings but do have some money in a traditional IRA. Is it better to use credit cards to pay off for my living expenses (my mortgage is the only expense that I need to pay off with cash, which I have enough saved for a couple of months) or to cash out my IRA and not charge the credit card.
Welcome GUEST,
Cashing out your IRA is not a good option in my opinion. It will be better if you could try and search of a job so that you can at least pay off your monthly mortgage dues on time and do not incur further credit card debts.
Cashing out your IRA is not a good option in my opinion. It will be better if you could try and search of a job so that you can at least pay off your monthly mortgage dues on time and do not incur further credit card debts.