Good advice
March 30, 2009 | alternatives, industry, personal finance | Comments (0)Don’t use 401k money to pay off debt:
Once the money is withdrawn, you can’t put it back. That means you lose all the future tax-deferred gains the money could have earned. Assuming an average 8% annual return over 30 years — and the stock market has achieved that, even counting in the years of the Great Depression — you’ll wind up losing $10,000 or more in retirement money for every $1,000 you withdraw now.
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