Upgrade: I’m 40, will get a pension and have $60,000 saved for retirement. Should I borrow from it to pay off $17,500 in credit card debt?

Upgrade: I’m 40, will get a pension and have $60,000 saved for retirement. Should I borrow from it to pay off $17,500 in credit card debt?

Dear Catey,

I am a 40-year-old law-enforcement officer and hope to retire in 13 or 14 years. At that time, I will have 30-plus years on the job with a pension giving me 70% of my current income with a cost-of-living annual percentage increase around 2% or 3%.

Additionally I have a little over $60,000 in a 457(b) plan. But I also have $17,500 in credit card debt with interest ranging from 9%…

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