Question first: Based on my statements below is it wise to cash out one of my ROTHS or something and pay down the Credit Cards Then if disciplined I can make higher payments to the same ROTH or works 401k or somewhere $25,000 various Credit Card Dept Now myself and wife have a few different savings going on Wife ROTH ME ROTH Wife work 401K ME work 401K 2-3 Stock investments with local broker ME Good work Pention plan going Anyway due to interest rate and other reasons the Credit Card Dept just is not going down ( Been trying the last 3 years ) I believe some of it is due to to much savings for our income I know can't ever save to much .. But just not able to get rid of the Credit Card debt and just seeing it get worse ( Need house repairs and new ( used ) car pretty soon, trying to get kids through college ) Our Cash ( bank ) savings is only about 2 months income ahead Thanks
In general, it's never wise to tap your retirement accounts. However, you can withdraw contributions from your ROTH at any time without paying taxes or penalties, so if it's the only way to finally get rid of your high-interest credit card debt once and for all, you could do it. If there's some way to adjust your budget and start making large enough payments on the credit cards without tapping the ROTH, that would be a better move. Sorry for the delay in response- missed your post somehow!