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>> I changed jobs last year and have a $10,000 balance in a pension fund that I have to move. I can roll it over to my IRA/SIP's if I want. However, I am wondering if you think it's worth losing the 20% in taxes to put it towards my cc bills? <<

Actually, 20% is just the withholding. It'll get taxed at your current tax bracket - probably 28%. You'll have to come up with the other 8% on April 15. The IRS will also take another 10% as a penalty - ouch!

I dipped into that pot to make a down payment on a house. But, of course, I was 25 at the time. If you're older, I wouldn't touch retirement money. Since the IRS limits how much we can sock away tax free, it could be hard to catch up.

Just my humble opinion.

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