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RetireeSoon

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Going to retire in a year, best options to clear up my credit?
I'll have a pension, 401k and medical. I'm considering using my 401k to pay off some credit card debt. Is this a good idea, or are there better ways in this situation?

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I don't think it is ever a good idea to tap into your 401(k) to pay off debt, but without knowing everything in your credit report and bank accounts, nobody can really say.  If you are talking about paying off old debts to clean up your credit, be very careful, you could be throwing your money away.  Some debts will fall off after 7 & 1/2 years.  Some take longer.  I think you may want to review your full credit report (you can get it from www.annualcreditreport.com) and if you have a financial planner or someone that handles your 401(k), you may want to sit down with them to go over your options.  Also, visit www.financialplan.about.com and look under tab "Budet & Save" and some of the other info.  Another good site (related to that one) is www.credit.about.com for all things credit related.  Best of luck to you and happy retirement!

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Thanks!

I'll look those over, and yes also, I'll check with the planner!

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