Lately ive thinking about taking money out of my retirement plan($17k) by using the CARES ACT passed by congress due to COVID-19. I Plan on using the money to pay off my credit card debt which currently stands at $10k and use the rest for other necessary things. From my understanding, youre allowed to withdraw money from your retirement plan without any penalties and just a 10% tax on the money withdrawn. If im missing any information please let me know Im 26M loving in NYC if it matters.
Submitted September 14, 2020 at 11:05PM by sb7ny https://ift.tt/32sMbld
