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Just got a job at Deloitte M&A in Atlanta and am currently looking to buy a house. Would you advise I buy closer to Atlanta or the suburbs? I personally want to be in the suburbs but I hear the traffic situation is quite bad. Current consultants in Atlanta, how much time do you actually spend in the office vs remote vs client site? Would you advise I try and stay closer to the office?
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Don’t withdraw. You should open a new cc with 0% intro apr/balance transfer and move the balance to the new cc. Most give intro 0% intro apr for 15-18months. Then payoff your balance during that 15-18 months and either (1) never use a cc again or (2) pay off your balance in full every month
Why are you worried about the inquiries? These only matter if you’re applying for another loan, like a mortgage.
Chief
Do not withdraw. There are steep penalties for withdrawing early.
How much debt do you have? Are the monthly payments crushing?
My recommendation would be to pay enough into the 401k to get the match. That's up to a 100% return. If they match up to 3%, that means you put into 3%, they put in 3%, you have 6% of your salary invested. Some companies might do something like they match 50% up to 6%. So you put in 6% to get 3% match. A 50% automatic return ain't bad either!
The caveat is that you don't get to keep all of that IF you leave when you are only partially vested.
So after you've put just enough to match in the 401k, throw everything else at those loans. Get rid of them quick!
Yes, just match up, no more until you have paid the high interest debts
Pay the debt asap, but do you really need to withdraw for that?
Wow, yeah perhaps I would lower the 401k contribution, not ideal but would so I could pay the debts, starting with the one with the highest interest rates. But dont withdraw, I dont think its worth it
You can take loan from your 401k and use the proceeds to pay your cc balance. 401K loan interest is only around 3.25% during this time. Hope you have enough 401k loanable amount to cover your cc balance.
Instead of withdrawing which you will incur penalty, take 401k loan. It wont affect your credit rating. Secondly, current interest is low based on market. Third, the interest you will pay for the 401k loan will be credited to your 401k balance. In this case, the interest income is earned by your own 401k balance. Third, as personal loan, you will have maximum 60 months to pay this loan. The monthly payments will be deducted from your payslip. And lastly, there is no penalty for prepaying your 401k loan. When your means allow, you can fully pay it and as I have said, it wont affect your credit score. You can login to your Fidelity Account and you can find more details. :)