Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Using retirement money...ever a good idea?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]If you are in a stable job, and you are able to take out a loan, which you pay back to yourself with interest, it is certainly worth considering in this instance.[/quote] Thing is, the money you save up is going to be taxed and go away forever anyway. With a 401k loan (I'd keep to 10% of your balance MAX), you're putting the money back for retirement -- consider it an investment in a bond fund which is certainly an important part of an investment strategy. Yes, the money you're using to pay the loan is taxable, but so too would the money you accumulate through saving over the next 2-3 years. The money you use to make car payments is also getting taxed and instead of you getting the money back eventually, it's the bank/dealer/whoever. The keys are -- can you afford to pay it back immediately if needed and how stable is your job? [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
