Reply to Shut down could not have come at worst time withdraw. Some tap

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[quote=Anonymous]The interest free loans make the most sense and depending on the terms for repayment taking out a larger amount to cover 3 months makes sense.

I can see where people on this board with young kids are stretched. This is the time frame when many people have just bough a house, have daycare or nanny bills for 2 or more kids, car loans for the bigger car that fits all the kids and might have something left on their student loans. Many people keep a small savings but as the stock market has been doing well they have been maxing out their retirement and college contributions which is exactly what they should be doing not sitting on 50K in their bank account if they are feds. Since the stock market has gone down, its the worst time to tap retirement plus there is a only a 60 day window to put the money back before you get hit with a huge tax penalty.

If you could stop paying for daycare, nanny, preschool or private school while you are furloughed then it wouldn't be so bad but you can't. [/quote]

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