| Title | : | Should I Take A Loan From My 401k? What You Need to Know. |
| Lasting | : | 6.17 |
| Date of publication | : | |
| Views | : | 5,7 rb |
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Best explanation, I have seen on the subject! Comment from : @The_Waraba |
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Very well-rounded and concise explanation! Comment from : @Stanislav_Sikulskyi |
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Thank you Comment from : @mskrh640 |
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What fees are currently incurred when getting this type of a loan? That's another serious consideration Also, I've heard that if used for a home purchase you have 15 years to pay back Comment from : @michaelplitt2135 |
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Very helpful Thanks Comment from : @BrianSmithNow |
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Is your boss made aware that you took out a loan? Comment from : @lexcilately |
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Great video! Comment from : @washedout8055 |
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Exactly the information I was looking for Very thorough Thanks Comment from : @michaelchow8944 |
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Great information! What if I had 401k loan and was furloughed but re hired by feb 2023? The same company Do I still need to payback the whole loan? Comment from : @djarcelona09 |
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The taxed twice information you gave is incorrect You pay your taxes as you pay back the loan as well as when you take withdrawals at retirement or roll it over You do pay your full taxes twice although at different times and after appreciationbrbrThe easiest way to look at it is you are taking your own pre-tax money and paying it back with post-tax dollars An instant loss and almost always a bad idea when combined with opportunity lost and the risk associated with possible penalties Comment from : @El_Dusty_ |
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It just puts you in even more debt on top of debt you probably already have Definitely Not a good idea taking money from a 401k Comment from : @peaceful4you408 |
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Excellent video! Simple, understandable, no extra stuff, and eloquently stated Comment from : @danlee5184 |
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Good job Comment from : @edwinhargrave679 |
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Great information! Thanks! Comment from : @RandR |
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