"Suppose that you put 10% down on a home and then you take 10% of the equity of the home and put it in as an asset in your 401(k), Hassett said in an interview with Fox Business Network. Then your 401(k) will grow over time as the value of your house grows. More money for retirement and you'll have solved the liquidity constraint problem and gotten yourself a house early in life."
"I'm so happy with the way 401(k)s are doing,"
President Trump downplayed a proposal to allow penalty-free 401(k) withdrawals for home down payments and said he is not a huge fan of using retirement savings for down payments. Trump said he prefers Americans keep their 401(k) balances intact and expressed satisfaction with current 401(k) performance. Kevin Hassett had publicly floated a plan to permit penalty-free withdrawals to help buyers overcome liquidity constraints and build retirement assets tied to home equity. Trump instead announced actions to curb large institutional investors buying single-family homes, directed GSEs to acquire up to $200 billion in MBS, and called to cap credit card rates at 10%.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]