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re: Extra $10,000: finish paying off truck or put towards down payment on a house?(Updated)
Posted on 7/8/20 at 5:52 pm to Undertow
Posted on 7/8/20 at 5:52 pm to Undertow
Update: my home loan is locked in at 2.875%. I decided to take enough out of my 401k (penalty free due to COVID) to put 20% down on the house AND pay off my truck.
I feel like the opportunity to pull from my 401k penalty free was too good to pass up. Good decision or no?
I feel like the opportunity to pull from my 401k penalty free was too good to pass up. Good decision or no?
1
Posted on 7/8/20 at 6:05 pm to Undertow
quote:
I feel like the opportunity to pull from my 401k penalty free was too good to pass up. Good decision or no?
Jesus that would have been the last thing I would have done. Did you compute what the future value of that money would be in 20-30 years? I would imagine it’s in the six figure range. You’re literally robbing from your future self.
This post was edited on 7/8/20 at 6:06 pm
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