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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 4:41 pm to Poodlebrain
Posted on 10/29/15 at 4:41 pm to Poodlebrain
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?
What if this person lost their job? What if their business just up and closed one evening? What happens then? I don't consider anything a certainty. Just me, everyone is entitled to their own opinion.
1
Posted on 10/30/15 at 8:43 am to Will Cover
quote:I am certain that you take risks, but you are providing counsel to others that they shouldn't. I'm now certain that you are a hypocrite, just like the rest of us.
I don't consider anything a certainty.
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