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Reply to "Anyone NOT maxing out your 401(k) even though you're making decent money?"
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[quote=Anonymous]There's nothing wrong with borrowing some money for that expansion. You are millionaires, after all. :) I would probably do that rather than cut back on the 401(k) contributions, because you'll be forced to pay the loan back every month. I wasn't clear on the aspect of whether or not you were proposing to give up matching, even if it's not dollar for dollar. Do NOT give up any matching. If the maximum match he can get is by contributing 5%, make sure he contributes 5% (or more). Don't give up matching just because it's not dollar for dollar; even if it's only 50% matching, that's the equivalent of giving up an instantaneous 50% return on your investment (likewise, you could say it's equivalent to taking a HELOC with a 50% annual interest rate). NEVER forego matching contributions.[/quote]
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