‘Who knows if I’ll live until retirement?’ I have $10,000 in credit-card debt and $4,000 in student loans. Should I tap my 401(k)?

I’m 41 years old, father to two lovely teenage daughters, and married to my second wife for a little over a year. I’m sitting on about $10,000 of credit-card debt, and I’ve still got about $4,500 to pay off for my student loan. Our combined income is just about $100,000 a year.

It seems like a solution to a problem, but it seems like universally, everyone is like, “DON’T TOUCH YOUR RETIREMENT!” What is the downside to this idea? Future me might not need this money as much as current me feels like he does.You can email The Moneyist with any financial and ethical questions related to coronavirus at qfottrell@marketwatch.com, and follow Quentin Fottrell on Twitter.If you withdrew that money from your 401, your future self would look back at your present self and say, “Thanks for nothing, mate.

If you were to withdraw that $24,000 early from your 401 before age 59½, you would be charged income taxes on the withdrawal in addition to a 10% early withdrawal penalty. The amount you withdraw will be added to your 2021 income tax return. You are creating more problems in order to take the “easy” way out.

Just buy 30-60 day Spy calls every time it touches the daily 50MA. ez game. 1000000000000X more gains then any 401k could dream of.

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