- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Student Loans
Posted on 4/22/24 at 6:46 am to Abundy007
Posted on 4/22/24 at 6:46 am to Abundy007
quote:
My daughter is graduating in May 2024 should I take money from my 401k to pay off her student loans ~ 50k? We have been paying on it but the interest rate on her loan is about 8%. Im no financial guy but my wife and I have worked hard the past 30 years and we don’t won’t to keep paying these monthly loan notes because basically we’re just paying the interest not the principal. Any guidance or recommendations would be greatly appreciated.
Do not pay off her loan. It’s her responsibility. Get a fee only financial advisor as it’s clear you need help preparing a financial plan.
1
Posted on 4/22/24 at 7:38 pm to lynxcat
Thank you. I have a financial advisor and he recommends not to take any money from my 401k.
I have a financial planner and he manages my money I was just asking other people for their opinions. During Covid (what a joke) the was a law that you could take money from your 401k and not be penalized but I think that law expired back 2022. I will be good either way and for the smart arse who made the comment about being a typical parent, who judge me when you don’t know anything about me and my parenting skills.
I have a financial planner and he manages my money I was just asking other people for their opinions. During Covid (what a joke) the was a law that you could take money from your 401k and not be penalized but I think that law expired back 2022. I will be good either way and for the smart arse who made the comment about being a typical parent, who judge me when you don’t know anything about me and my parenting skills.
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News