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"If they got a large enough loan that they could pay off outside debt, then they'd pay just one bill to the loan each month."
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Nov 11, 2017 · Cashing out your IRA. So to pay off $10K in debt, you’d actually need to withdraw more than $10,000 from your IRA in order to cover both the taxes and the penalty. Plus, swiping $10,000 from your IRA now could also mean tens of thousands of dollars less when you retire because of lost investment growth.
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Paying down a thousand dollars of debt immediately saves your co-worker about $1357$ dollars; paying another thousand of winnings saves them only anotherSo if he gambles, he has a $48$ percent chance of ending up $1357+1345 = 2702$ better off, whereas if he doesn't gamble, he has a...
Stupid or Smart? (Getting a Loan to Pay Off Debt) | PT Money Not only is borrowing to pay off debt ignoring the real problem, but it can very easily make the problem worse. I’m all for lowering interest rates, and if a loan or balance transfer can do that, great, you’ll pay off your debt faster (and pay less interest). Gambling and Debt - Problems & Compulsive Behavior
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