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re: Would it ever be ok to tap into 401k for a first time home purchase?
Posted on 10/29/15 at 11:25 am to Herb484
Posted on 10/29/15 at 11:25 am to Herb484
quote:
Would it ever be ok to tap into 401k for a first time home purchase?
No and anyone who tells you otherwise does not represent your interest with integrity and capable thought processes.
1
Posted on 10/29/15 at 11:57 am to Will Cover
quote:Suppose there is a home that is available now that the person really wants, but they do not have the necessary money immediately, but they are certain they will have the money in 3 months? Why would it be foolish to use a loan from a 401(k) to be able to buy the home they want now instead of waiting 3 months and hoping a home they like as much becomes available?
No and anyone who tells you otherwise does not represent your interest with integrity and capable thought processes.
Every opportunity needs to be analyzed separately to make appropriate decisions. Anytime someone tells you never do something or always do something you should question their advice. And your advice deserves questioning since it deals in absolutes.
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