All Questions
7
questions
3
votes
2
answers
950
views
Should I pay off my 401(k) loan ASAP?
I recently saw a question on the forum about "Should I pay off my Home LOAN from my 401(k) or continue to pay Interest to myself".
Most responses seemed to think that paying it off ASAP was the best ...
3
votes
6
answers
652
views
In what order should I decrease my loan debt?
I currently have federal student loans, and a personal loan I took out for college. Below are my percentages for each. I am wondering which loans I should start paying off first to ultimately not ...
- 521
1
vote
1
answer
180
views
Borrowing money from 401k retirement plan to pay credit card bills? [duplicate]
I have some credit card debt that I would like to pay off. I feel like I am throwing money away on the interest charges each month. I was curious to know if taking a loan from my 401k to pay off my ...
- 343
1
vote
1
answer
414
views
401K loan repayment Default
I have a 29,000.00 loan from my 401K That I am paying 800.00 per month on. My wife has been ill for 2.5 years and unable to work. Currently trying to get disability. However this has created a big ...
- 11
5
votes
1
answer
621
views
Remedies for Defaulting on a 401(k) loan
I changed employers and am unable to pay back my 401(k) loan within the 60-day period allowed. I realize this will default the loan and I will receive a 1099-R, have to pay taxes and penalties. The ...
- 51
3
votes
3
answers
2k
views
Chipping away at large loan, or get rid of smaller ones? Student debt
I am currently $50k in debt from school. I have $9,500 in saving specifically saved for paying off student loans. I am wondering if I could get some quick advice as to what/why I should be paying off. ...
- 823
4
votes
4
answers
2k
views
How should I calculate the opportunity cost of using a 401(k) loan?
I've seen a number of financial articles that discuss the "opportunity cost" of using a 401(k) loan; however, I don't seem to recall ever seeing a good formula or calculation that can be done to ...
- 1,189