I have my financial life in order now and I’m spending much less than I bring in each month.
I am considering using one of the 401(k)s to pay off debt.
If credit card or loan payments have you scrambling for money each month, welcome to the world of doom and debt.
It’s not a pleasant feeling, but liquidated debt may include selling your assets to pay down or eliminate the debt you owe.
Selling your house and downsizing may become a difficult move, but consider all assets you have to settle your debts.
Then think hard about what you want to sell and how it will affect your life in the near future.
Items to consider when liquidating debt may include your financial investments, 401k funds, IRA accounts or cash values on any life insurance policies.