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re: Confessions of Personal Financial Quirks
Posted on 5/19/13 at 9:37 am to rickgrimes
Posted on 5/19/13 at 9:37 am to rickgrimes
quote:
Sounds like a very inconvenient way to pay for your wife's ebooks..
She puts ebooks on the Visa card. She buys everything online... clothes, running gear, cosmetics... all goes on the Visa and the total runs about $1,200 a month. If it gets around 1,500 I tell her to calm down.
0
Posted on 5/20/13 at 7:26 am to Bayou Tiger
quote:
Which loans can you pay back with pre-tax dollars? At least with a 401k loan you pay the interest to yourself. If you work through the math, the loan and the 401k investment vehicle (interest paid on the loan) are independent.
His point is that you negate the tax advabtage of the 401k by borrowing.
You are essentially replacing pre tax dollars with post tax dollars that you will have to pay taxes on again.
And while you pay interest to yourself, you still incur an opportunity cost with that money.
So because you don't want to pay a bank ~5% or so, you are going to turn away from the potential 8%+ in returns?
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