eXtension does not provide personal financial advice or investment recommendations. Rather, our goal is to provide you with basic information and resources with which to make informed decisions. Your question is very specific. We encourage you to reach out to a qualified financial adviser in your area who can "run the numbers" for you and consider other aspects of your personal finances. As an alternative debt reduction strategy, you might consider using PowerPay, a Cooperative Extension program that can help you develop a plan to accelerate your debt repayment and save time and interest. For details, see http://www.powerpay.org.
An important factor to consider is income taxes. If you are under 59½ years old, there will be a federal income penalty for withdrawing funds from retirement savings accounts. In addition, there may be capital gains that you would have to pay taxes on for an early withdrawal. You may want to consult a tax adviser.
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