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Reply to "Options (50k cash, 200k 401k, 2k a month cash) to pay off 20k cc balance. Which one would you use?"
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[quote=Anonymous][quote=Anonymous]Pay your debt. Your credit line could always be used again in a true emergency beyond your current funds. Why on earth would you pay interest when you have money in the bank?[/quote] +1 The credit card can serve as your safety net in the unlikely event that you have an emergency requiring more than the $30K you'll have left in savings. Paying interest on a non-equity-building asset when you don't need to is stupid, stupid, stupid. [/quote]
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