Typically you don’t want to take money from your IRA to pay credit card debt because you must pay income taxes on the money you withdraw. And if you withdraw too much, it could move you into a higher tax bracket. And depending on your income, it could make part of your SS benefit taxable.
Is there any way you could earn extra money from part-time work now — and put that toward your credit card debt? That would really help — and it would keep your retirement account growing till you REALLY need it.
If you want more specific guidance, call 800-388-2227 — It’s the National Foundation for Credit Counseling and will connect you to the nearest local office. You can trust them.