Penny KiddMoney Life Coach, Pennywise Coaching · Changing Financial Lives So You Can Keep More Money & Stress Less | Speaker | Author | Financial Coach

Is financial coaching worth it? The easy path with no behavioral change can cost you a lot$

9 Dec 2025 · 1 min

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1:24

A couple with $77,000 in high-interest debt considers withdrawing $120,000 from their IRA to pay it off. A financial coach could help them cut spending by $3,000 monthly instead, saving them 9-16 months of payments and $50,000 in interest, while preserving an IRA that could grow to nearly $500,000 in 20 years.

Chapters

Some people wonder why you would hire a coach when you should be able to just do this on your own. So I just got off a discovery call today and the people were super stressed and frustrated by their debt. They have about $77,000 of debt and they figured on average it's about 28% and they pay $2,500 a month, which is a lot per month. But what if by working with a coach you could change your behavior and you could find $3,000 a month to put towards it and then see how much you're going to save in interest? Then in that same timeframe, it's paid off 9— 16 months earlier. What if we turn around and put that in a high-yield savings account? In the same timeframe, they've got almost $50,000. Now they wanted to take the money out of an IRA and just be done with it, get it over with. They know they're gonna pay taxes and interest penalties and, but it'll just, it'll make it work itself out in the end. Well, I figure they're gonna have to take $120,000 out in order to cover the debt. So what would their $120,000 be worth in 20 years? Almost half a million dollars. So is hiring somebody who can help you think outside the box worth it? I think so.