Re: OT-Can I take $$ from 401K toward home purchase>> - Saab General Bulletin Board - Saabnet.com
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Re: OT-Can I take $$ from 401K toward home purchase>>
Posted by tturboboy (more from tturboboy) on Wed, 4 Feb 2004 09:40:45
In Reply to: Re: OT-Can I take $$ from 401K toward home purchase>>, compaqted, Wed, 4 Feb 2004 09:02:54
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i think there are a few circumstances where you can withdraw 401k contibutions without penalty - qualified educational expenses, medical expenses but not for home buying, i have always found vanguard.com to have a lot of useful information on investing , 401k's etc . otherwise the options are either a loan or withdraw with 10%penalty plus pay income tax on the money. from a financially conservative kind of guy my unasked for two cents is that the since the benefits of tax free accrual of a 401k are huge over time it should only be tapped into as a last resort.driven by low interest rates the housing market in many parts of the country seems overvalued and i am astounded at how much debt people are taking on to buy a house- buy wisely!.
posted by 208.31.4...
Posts in this Thread:
- OT-Can I take $$ from 401K toward home purchase>>, elSVT, Wed, 4 Feb 2004 08:35:14
- Re: OT-Can I take $$ from 401K toward home purchase>>, EGD , Wed, 4 Feb 2004 22:11:40
- Don't do it!, J, Wed, 4 Feb 2004 21:03:25
- Is 20% the problem, PMI?, Randy Thatcher , Wed, 4 Feb 2004 11:15:49
- Re: OT-Can I take $$ from 401K toward home purchase>>, gizmo , Wed, 4 Feb 2004 10:04:53
- better idea, jeff, Wed, 4 Feb 2004 09:38:49
- Re: OT-Can I take $$ from 401K toward home purchase>>, compaqted, Wed, 4 Feb 2004 09:02:54
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