#401k-loans

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#retirement-planning #opportunity-cost #mortgage-payoff #job-loss-risk #employer-match #tax-implications
Retirement
from24/7 Wall St.
1 day ago

Clark Howard's Simple Rule for 401(k) Loans: Don't Do It, Even If Rates Look Good

Borrowing from a 401(k) to pay down a slightly lower-rate mortgage creates guaranteed cost and can trigger retirement-account losses and tax penalties.
Retirement
from24/7 Wall St.
6 days ago

Why I Would Tell a 50-Year-Old to Skip the $50,000 401(k) Loan and the $100,000 It Would Quietly Cost Her

Borrowing from a 401(k) for a kitchen renovation can cost far more than the loan interest due to lost compounding, double taxation, and missed employer matches.
US politics
fromwww.housingwire.com
3 months ago

Tapping investments for homeownership down payments

Permit 401(k) loans for home down payments with a 30-year repayment term to expand down payment sources and increase first-time homeownership.
from24/7 Wall St.
3 months ago

Suze Orman says everyone should invest in a 401(k) - but never use it for this

Now, let's say you lose your job before the money plus interest is paid back. You still have to pay back whatever the remaining balance is on that loan. And if you don't have the money to pay it back, it will be taxed to you as ordinary income. That's in addition to the 10% penalty if you were under the typical retirement age of 59 1/2.
Business
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