Reply to Should I take out a HELOC or a TSP loan to finance my $40,000 bathroom renovation?

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Reply to "Should I take out a HELOC or a TSP loan to finance my $40,000 bathroom renovation?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Is the bathroom currently functional? I would save money over the next few years and then pay cash. [/quote]

At this point, the useful life of the bathroom is over.  It is > 50 years old and has never been updated.  I would like to do this project now and not wait to save the cash.[/quote]

If the toilet , shower and sink work, and there are no leaks, it hasn't outlived "its useful life."  What a ridiculous way to characterize your desire for a renovation.

You described taking the TSP loan out as a "no brainer."  I agree, in the sense that anyone who takes out a TSP loan out for an unneeded home renovation 5 years before retirement doesn't have the sense the good Lord gave a turnip.  [/quote]

OP here: some of us don't enjoy living in a dump.  I'd like to live in a spruced up house now.  I can afford it, and could pay cash if I wanted.  But I don't want to - I'd rather have my cash invested and liquid if a good opportunity comes along. So thanks for the lecture, but do you have any insight into whether I should take out a TSP loan or a HELOC?[/quote]

I'm curious what "good opportunity" you are waiting for. I truly don't understand why you would take out a TSP loan or HELOC if you already have the funds. If you're absolutely determined to do it anyway I would say the TSP loan is better.   [/quote]

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