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|Subject: Newbie IRA question||Date: 12/31/2004 3:24 PM|
|Author: Smurfette823||Number: 43802 of 75383|
I have a very little IRA I started a year or two ago that has $302. I also have in the neighborhood of $20,000 of debt (credit cards and car loan). I'm wondering if I should withdraw the money and take the penalty to start my mini e-fund and snowball payments.
I am contributing 6% to my 401k, taking full advantage of the employer matching (50% up to 6)... my 401k has a few thousand dollars in in already and I'm just coming up on a year with my employer. I am surprised how fast it has grown, and the $300 IRA now seems very small.
What do you think I should do?
Thanks for your help,
PS - I'm a young and single (no dependents or partner), if that makes a difference.
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