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I'm 27 and I have an IRA of around 125K. I'm about to transition into another position with a salary of around 85K-100K. I have around 15K in smaller debts that include credit cards and medical. I also have around 30K in debts that include vehicles and other home related things. My wife and I have around 220K in student loan debt combined. The student loans are a combination of private and federal student loans. Does it make sense to cash out my IRA when I leave my current position and put all of it down on student loan debt? Or should I continue to let my IRA grow and just come up with a longer term payment plan for my student loans?

Any help is appreciated. Thanks.

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  • IRA? Or 401k? In any case - the answer is probably "no".
    – littleadv
    Oct 25 '14 at 8:18