Should I Empty My Retirement Accounts to Pay Off My Student Loans?
Paying off student loans with retirement funds often triggers taxes and penalties, but there are exceptions to these rules.
Paying off student loans with retirement funds often triggers taxes and penalties, but there are exceptions to these rules.
Putting money in a retirement account can mean lower student loan payments and more student loan forgiveness.
Retirement plan contributions, transfers, and withdrawals can raise or lower your monthly student loan payments on IBR, PAYE, and SAVE.
If you are a current college student, putting some money in a Roth IRA has some major advantages.
The student loan tax bomb may or may not happen. My plan uses a Roth IRA to save for retirement and prepare for big tax bill.
Deciding between attacking student loans and investing in a Roth IRA usually comes down to interest rates and how much risk you can tolerate.