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re: 401K vs Buying Home
Posted on 8/9/14 at 6:29 pm to LSUisBetterthanU
Posted on 8/9/14 at 6:29 pm to LSUisBetterthanU
It sounds like the guy has enough money to put down on a house between his savings and 401K, and still have money left over. Everyone insists that he waits a year or two, however, who knows what the interest rates will be at that time. I believe that is why he is asking the question. I have no input other than I think you guys are too focused on the fact that he will have to pay a small penalty on his 401K for withdrawing early.
Posted on 8/11/14 at 10:23 pm to powerlineman
quote:
I think you guys are too focused on the fact that he will have to pay a small penalty on his 401K for withdrawing early.
That is not the problem. The problem is what 13k in tax-deferred savings grows to over the next 30+ years compared to a paltry 8k after taxes today.
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