The key is to keep your eye on the long-term even as you deal with short-term needs, so you can retire when and how you want. Loans and withdrawals from workplace savings plans (such as 401(k)s or 403(b)s) are different ways to take money out of your plan. A loan lets you ...
Whenever you're taking profits to pay for something awesome, it feels like free money. After a long enough time passes, the investments you made will start feeling like undeserved, free money. This is especially true if you geta nice severance checkfor leaving a job you wanted to leave anyw...
contributed to my 401k but I really hadn’t saved my money much at all. And in fact, the University of Chicago had to help me with my down payment when I moved as part of the recruitment. And there’s a gentleman at Harris Bank who, at the time I was very rude to, ...
Leaving active duty.A TSP loan, just like any loan against a defined contribution pension program, is only available while you’re still employed. If you separate or retire, you must repay the loan in full. Otherwise the IRS deems the outstanding loan balance as a taxable distribution. Tax ...
If you're about to take out a loan, then this strategy is not for you. But there's a lot of us that simply don't care what our credit score is because we're not in the market for a loan.Second, most of us are leaving the borrowed funds in an extremely liquid instrument like ...