<prompt> Human: This is perhaps a noob question...First, a little about me:My debt is my car 10K owed at 3 and house 60K owed and 15yrs left.I have 40K in my 401KMy wife has about 30K in student loans.Our take home pay is around 7Kmonth and we only have 1,500 in savings.Should I empty out my 401K to pay off debt, start building our 6-month emergency fund up and then start making out our 401K and Roth IRA contributions?  <response>: At 7k a month you should do a budget first and find out where the heck all that money is going down the drain to... 