Should I Use the Cash In My 401k Account For A Down Payment On A House?
July 16, 2008 by Erik Folgate
Filed under Investing
I need your help. I think I know the answer to my own question, but I have the luxury of interacting with over 25,000 people per month on this site. Do you think it would be wise or unwise for me to take the money in my 401k account and use it for a down payment on a house? We are planning to buy in the next two months. I normally advise people that it’s a horrible idea to borrow from a 401k account. A 401k should be something that you contribute to regularly and forget that it’s there.
Is The Roth 401(k) Right For You?
February 12, 2007 by Erik Folgate
Filed under Investing
What is the Roth 401(k)?
The Roth 401k is a combination of the Roth IRA and the traditional 401k. It is a company-sponsored retirement plan, but it invests after-tax dollars to a retirement account. Then, the money withdrawn at retirement is untaxed. Whereas, the traditional 401k takes pre-tax dollars and invests it and withdrawals are taxed at retirement.
Who does it benefit?
