Had no idea, is that even legal ??????Originally Posted by GeoFisher
OK.............not a withdrawal, or cancellation......a loan against the 401K. THAT is much better, and I've used that to purchase 2 cars and a BOAT
THE money you pay in interest (in my case 10%) is actually the only thing keeping that part of my 401K from tanking. I have 2 loans out on my 401K, which amount to about 50K. Those are over 10 years......and I DELIBERATELY set the rate at 12%, so I get a 12 percent return over those 10 years on the principal...........
Later,
Geo
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