I read "Susan's" attempt of reducing $8,000 worth of debt by accessing her 40lK. My situation is similar.I've paid off our debt. However, we leased a truck that we want to keep when the lease runs out; l5 months. The payments are close to $500 per month. I have approximately $l7,000 in American Funds which will pay somewhere in the neighborhood of l,300 in capitol gains after the first part of the year. My thoughts were to pull the money out of the portfolio and pay off the truck thus saving myself $500 per month. I'm 60 years old and thought I would only have to pay taxes on the money taken out? I really hate to pull the money out of the IRA account but thought it wise to eliminate a $500 bill.