Withdrawing money from a 401(k) plan to buy a house can seem appealing, but it carries hidden risks including taxes and penalties that could outweigh the benefits.
Dave Ramsey urges homeowners to consider safer alternatives for funding home purchases, emphasizing that financial stability and long-term planning are more reliable than quick fixes.
The American Dream of homeownership is under strain as the median home price has dramatically increased over the last two decades, putting pressure on potential buyers.
Achieving home ownership free and clear is a worthy goal, yet signals caution against withdrawing retirement savings, as that financial hit could jeopardize future stability.
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