Okay, withdrew most of 401k to payoff half of overwhelming debt.... relieved but not relieved
@chuck34108 Be relieved. Pay yourself back to the extent you are able. The repayment money will not face the same tax burden. It's like laundering your own money.
Had to liquidate mine after snowmobile accident with five broken bones. Five months in a wheel chair.
@chuck34108 I had to do that once. I don't regret it. It made it easier to pay off my house and I took it seriously and took steps to not get back IN debt - like not spending money on things I want but do not need. I put away as much as I could split into emergency funds and 401k funds.
I have a friend who never learned that lesson and bankrupted 5 times. Her spending habits have caused her husband to have a nervous breakdown and he likely will not live as long as he might have.
@chuck34108
Good decision. Interest will eat you alive.