I have $42K in debt from a failed business. I have $30K in a Traditional IRA. Currently my husband and I can not financially meet our monthly obligations. So we are getting deeper into debt every month. Should we use IRA to pay towards debt? Thx
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I suspect a bankruptcy declaration would be better in the long run than draining your retirement funds. Despite your weak finances, you'd be best shelling out some bucks for a financial planner to get the best advice. Mistakes of this scale can resonate for years in the future. -
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