I'm seriously considering an early withdrawl from my 401k to eliminate some serious debt. I've investigated budget re-arranging, paying the debt down over a period of time, but can't wait the 2 years to complete the debt elimination. This will not be a total withdrawl from my 401k, just a percentage. The question not answered yet is the tax issue. I know their is a 10% penality cost plus 20% Federal Tax hit. I realize the lost investment opportunity to this idea as well. What's the best way to figure the total tax impact of this debt elimination possibility? I'm just trying to understand if this is a realistic opition.Helpful opinions and advice are needed.Thanks
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