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Message
re: 401K vs Buying Home
Posted on 8/11/14 at 10:23 pm to powerlineman
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.
1
Posted on 8/12/14 at 11:20 am to slackster
It doesn't seem worth it for such a small amount and given the current balance. If the OP had $200K and needed $20K for a down payment AND knew his employment was secure, it might make sense.
This post was edited on 8/12/14 at 11:27 am
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