Timothy Sumer

Should you use your 401k or IRA to pay off your debt? There are several moving parts to this answer and many factors to consider. For one, what tax bracket are you in and how much tax will you pay on that distribution? Listen to some other considerations and possible alternative recommendations. If you have specific questions about your retirement and would like help getting answers, here is our Calendly link for a simple 15 minute complimentary phone call to speak with Nate. If you want to check out our services and other info about us, head on over to our website. OTHER RESOURCES Many people have so many questions around Medicare, we have a webinar that goes over some of the most frequently asked questions. You can watch it here. You can read our blog; Check us out on Social Media at; Our podcast is Retirement Rescue Radio. We also have a YouTube channel for our podcast as well. Our BOOKS authored by Nate Miller can be found on Amazon at these links; CP

In today’s video we’re discussing whether you should fund your 401(k) or pay off your debt. Really, it boils down to personal choice, but we explain both options in this video. Popular 401(k) Videos 🔴 #1 401k rollover Mistake to Avoid: 🔴 Taxes and 401k Rollovers: 🔴 How to Read a 401k Statement: 🔴 Why you Should Care About Your 401k? [Must Watch]: ✅ SUBSCRIBE to NOT being a transaction ever again... ✅ Like us on Facebook! ✅ Follow us on Twitter! ✅ Check out our site for more tips Paying down debt. In my 24 years in finance, I have witnessed many clients getting to retirement with zero debt, and they feel relieved. No debt, and just steady income coming in. There is no better feeling. Here’s where it makes sense to pay off debt first: If your interest rate on the debt is higher than you can reasonably earn in your investments. If you are laser-focused in paying off this debt. When you need to feel that level of accomplishment of a goal. Fund your 401(k). I can