Amherst WI | GrainTrader - 5/23/2015 08:38
Does your view point change when spending the $ on what I consider a better ROI Lifetime investment, VS those who borrow it to buy new cars or put in a swimming pool?
Its my personal opinion that the stock market is heading down over the next few years. I Dont see how this inflated market can continue...
No it doesn't. I think 401K's are a leave it alone investment. You are also throwing away any employer match you might get until its paid back. I don't know what that is but I can borrow money cheaper from Farm Credit for less than what my employer is matching by a couple of %.
Unless you have a crystal ball your not going to know when to get back into the stock market either. If your that worried about lower markets you could back off your agressive investments in your 401K to just bonds where you'll be safe and you'll still get your employers match.
I know what your saying about people cleaning out their retirment accounts to buy a vaction or other "wants". I worked with a guy who got a loan on his 401K to get a motorcycle. He then decided to "retire for a year" and pull out of his 401K for that too, he was about 50-55. I thought he was an idiot before he did all this so these actions sealed the deal. |
finance/Ag loan question/scenario - 401K loan to pay for tile
