Is it wise to withdraw a thrift savings plan balance when we are retired just to pay off bills?
We live on SS and small pension. Would love to pay off bills. The only savings we have is an IRA which would pay off almost completely, but the savings would be gone-after paying the taxes.
I would not, I would want to save the cash for an emergency and would not want to pay the added taxes.
just try to pay as much as you can on the debt
is working at least part-time a possibility to reduce your debt
you also may look at a reverse mortgage to increase your income and/or pay-off debts