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Level 2
Feb 28, 2020 12:04 AM UTC
Question

Credit card

Hi I wanted to ask . I have a credit card bill due and I am really low on funds would it be a good idea if I pulled from my 401 k or any of my investments?

1 reply

Level 15
Feb 28, 2020 3:53 AM UTC

best to pull money from your after tax investments; pulling money from a 401k is VERY expensive, especially if you are under 59.5 years old as there is a 10% penalty on the withdrawal.