(Topic ID: 232111)

How are you handling the stock market

By GPS

5 years ago


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  • 63 posts
  • 49 Pinsiders participating
  • Latest reply 5 years ago by SirScott
  • Topic is favorited by 1 Pinsider

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    #62 5 years ago

    This all sounds so easy. Why don't more people do it?

    For starters, most, 401-K plans allow only one outstanding loan. Thus, if you take one out for $20 grand and later need another 20 g's; sorry, no loan for you until you pay off the one you have. Not always so simple.

    Only nice thing I found is that if you legitimately retire from a COmpaNy, you can withdraw from the 401-K as if you were 59.5 years young, even if you are younger. You save the 10% penalty "tax".

    By "retire", you have to hit 85 (in my case, those bastards raised it to 86) points. 1 point for each year of age and 1 point for each year of service to the employer.

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