Need Advice CC debt payoff with 401k
I’m 28M started contributing to my companies 401k (traditional) 4 years ago when I started..I’m invested into VTTSX I have accumulated 10k in contributions (1.4k) in investment profits..after seeing the market at ATH..I’ve recently had the idea to liquidate and pay off my credit card (7k) and start fresh..I would then recontribute into a Roth instead of a traditional. And continue with my personal savings Yes I’m aware of the penalties when I withdraw..no I do not have a spending problem..just had a rough year with unfortunate things happen to me. No I will not take out a loan against my 401k. I would like to hear any insight into this decision. maybe someone has done this or has been in my situation. I make about 40k per year after taxes. More so I’d like to know if I’m actually hindering my future for short term relief or if I’m making a somewhat smart decision based off my situation.