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Message
re: Taking a loan out of 401k
Posted on 12/12/23 at 6:28 pm to Higgysmalls
Posted on 12/12/23 at 6:28 pm to Higgysmalls
You don’t gotta buy your son a $20,000 used car.
1
Posted on 12/12/23 at 6:43 pm to CEB
I know a lot of people frown against doing this but I think it’s a good way to get money right now. Yes, your money isn’t working for you but do you really think the market is about to shoot up?
I put more than I normally would in my 401k knowing that if I ever needed that money, I could borrow against it. I feel like over time, by contributing more, it would pay off even if I had to take a loan or 2 out over the life of my 401k.
I put more than I normally would in my 401k knowing that if I ever needed that money, I could borrow against it. I feel like over time, by contributing more, it would pay off even if I had to take a loan or 2 out over the life of my 401k.
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