So, mathematically, he should still roll over the money into an IRA. Try it one more time, assuming the original poster diverted the credit card payment into the IRA for those 15 years. Earning the same nominal 8% gains.Or even if he diverts just half of the credit card payment into the IRA... 15 years is a pretty good period of time for compound interest, and you're allowing it to work against him...I think it makes sense to pay off a nasty debt early in some cases. This might be one of those cases.The ideal solution is probably to borrow from the 401(k) and pay yourself interest. Just because it forces you to replace the money instead of blowing it on luxuries like food.Rick Disclosure: I've paid off large debts at 28% interest rates in the not-so-distant past. It hurts.
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