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Author: scothenry Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 266493  
Subject: changing jobs/401K Date: 3/1/2001 2:08 PM
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After 11 years with the same employer, I am changing jobs. My question is this: Should I early withdrawal about 1/3 of my 401K savings to pay off my long standing credit card debt in advance of buying a house (I have been on a CCCS debt payoff plan for 3 years) or should I just continue making payments on my plan and leave my 401K savings alone?
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Author: robjankus Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 159492 of 266493
Subject: Re: changing jobs/401K Date: 3/1/2001 2:18 PM
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Leave the 401K alone, roll it into a new one at your new place of business if possible, but I would definatly NOT touch your 401K.... Let it grow...

-rob

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Author: TMFKaren Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 159515 of 266493
Subject: Re: changing jobs/401K Date: 3/1/2001 3:14 PM
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After 11 years with the same employer, I am changing jobs. My question is this: Should I early withdrawal about 1/3 of my 401K savings to pay off my long standing credit card debt in advance of buying a house (I have been on a CCCS debt payoff plan for 3 years) or should I just continue making payments on my plan and leave my 401K savings alone?

Dear scothenry,

Here's a good article that may help you understand your choices:

http://www.fool.com/taxes/2000/taxes001027.htm

Should you decide to take control of the money, you may also want to read through our 13 Steps to Investing Foolishly. You'll find it at http://www.fool.com/school/13steps/13steps.htm?ref=STH13st

Good luck to you! Fool on!

Karen Kosoy
TMF Karen

Fools hit the airwaves. Watch Tom and Dave in an upcoming PBS special:
http://www.fool.com/press/2001/pbs.htm

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