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1Hopefulgirl

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is it a bad idea to withdraw enough money from an annuity to pay off credit card debt

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Yes!! Don't!!!

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First off, very few people who withdraw funds from an annuity, or other retirement fund, ever pay it back so they end up with less in their retirement years than they planned on.  You would also lose out on compounded interest even if you did pay it back.  Instead, I recommend trying for a balance transfer where the interest rate is zero percent for no less than 12 months. When I did that, my credit score increased and I was able to make a large dent in the credit card debt.

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1Hopefulgirl

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I am already retired and receiving a pension.  The money in the annuity is a savings, more or less. 

Wouldn't I save a lot of money just in interest alone by paying of $20,000 worth of credit card debt by using my own money that is in an annuity?

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