Quote:
Originally Posted by brayg
We did it once several years ago to pay off a vehicle, which decreased our monthly debt by a lot (the vehicle was $300/month, but we were po' folk at the time). It helped immensely and we were in our early 20s, but I'd never do it again. We got socked at tax time. A lot.  |
Ditto ditto... This is exactly what happened to us. Again, we were in our early 20's... so it was ok, but it wasn't at all worth it for what we got out of it. I think we ended up getting like $1,400 out of a $6K IRA (or some other similar account).
Val