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Reply to "401k or downpayment on house?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would not stop contributing. In your situation, I would take loans from both 401(k)'s (the max of 50K or half the balance is allowed) as part of the down payment, and then use the relatively high income to pay back the loans quickly.[/quote] Clever.[/quote] Not that clever. The money would need to be paid back straight away if the employee loses or changes jobs.[/quote] Really? I thought it was treated in that circumstance as a distribution subject to tax and penalty. That's the TSP at least.[/quote] Yes, of course, but that's much worse than paying it all back.[/quote]
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