Hello everyone,
I am newly getting my financial house in order after years of poor planning and getting into debt. I have a a significant amount of credit card debt that I have been diligently paying off.
I have a 403(b) through a job that I am now quitting. I was automatically enrolled in the 403(b) plan, and was at the time too stupid to pay any attention, so the money was allocated all into a money market fund, and has just been sitting there doing nothing.
My question is, now that I am leaving the job, I can cash out the 403(b) without penalty, or I can move it to Vanguard or Betterment or something and invest the money more efficiently. I'm thinking that the money will be most useful paying off my high-interest debt, but it seems sacrilegious to re-purpose money that has already been set aside for retirement. Am I right to think that the best use of this money would be to put it all towards my high-interest debt, or should I reinvesst it and leave it alone? Thanks for your help!!