Cash Out Mutual Funds For Debt?
Unless Amy's investments are in retirement savings that will cause penalties and taxes, then she should absolutely cash it out and pay off her debt.
QUESTION: Amy asks when she should cash out her mutual fund to pay off her debt.
ANSWER: Unless your investments are in retirement savings that will cause penalties and taxes, then you should absolutely cash it out and pay off your debt.
Just make sure you change the overspending habits that got you into debt in the first place. If you pay off these debts with your investment, but don’t change your bad money habits, you’ll end up in the same position again. And next time you won’t have the investments to bail you out.