Should I cash out my retirement fund to pay for my student loans?

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Posted by Gabriel Weiland (MONEY FORUMS: 7, Answers: 0)
Asked on May 12, 2016 11:30 pm
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Assuming you’re under 59 1/2, then you’re going to take a 10% penalty, plus if its in a 401K or traditional IRA, then you’ll owe income tax too. I’m guessing you’ve got a better interest rate than 10%, and certainly better than 25-35%, so I would say no. Keep the money invested.

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Posted by Hannah Rounds (MONEY FORUMS: 1, Answers: 54)
Answered: May 15, 2016 5:03 pm
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