MMI offers a wide variety of financial services to help improve your financial life. No matter what your financial situation, we can help you to establish an plan of action for achieving your financial goals.
Knowledge is the key to successful money management. Our resources are designed to inspire and assist you as you begin to make positive changes in your financial life.
Interact with MMI in a variety of formats including email, videos, tweets, blog posts, and pictures.
Since 1958, MMI has been a leading provider of financial counseling and education services. We invite you to learn more about the organization and its leadership.
I have about $4,000 in my 401(k) plan, and I have about $3,000 in credit card debt. I am leaving my job to start with another company and I am faced with the choice of rolling my 401(k) over into my new company's plan or taking the penalty and closing it out to pay off my credit cards, then starting over with my new employer's plan. I am 28 and single. I know that the advice is to first get out of debt, then build up an accessible savings of two months' living expenses or so, then start saving for retirement. Would it be in my best interests to close out the 401(k) to pay off my debt, build up a safety net in savings, and then start contributing to the new 401(k)? Or would I lose too much by starting two years later? -April
If you do not find the answer to your question in the archive, write to the Advice Team today! A member of the Advice Team will personally respond (by email) to your question by offering answers, helpful tips or solutions. This is a free service offered by MMI.