Subj : Re: Y'all or Ya'll?
To   : MRO
From : The Lizard Master
Date : Tue Jul 25 2023 07:44 am

 Re: Re: Y'all or Ya'll?
 By: MRO to The Lizard Master on Mon Jul 24 2023 08:37 pm

>  >  > Maybe you don't really know a lot of people?  I've worked with people
>  >  > that did 401k loans for vacations.
>
>  > Yikes!
>
>
> whats wrong with that? you just pay it back.
> you're paying it back to yourself.

Ton of reasons, you are paying back that loan with after tax dollars so you completely wipe out and lose out on probably the single biggest benefit of pretax dollars. Also if you have to take a loan out for a vacation from your retirement you are also probably more likely to default on yourself. It also depends on you keeping you current employer, you get fired you need to pay that back immediately.

Just not a great idea.

---TLM

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