Re:If You Want to Go Broke, Listen to a Billionaire
by joncrane on Tuesday October 01, 2019 @08:07PM
(#21132234)
Can't you do it once for home purchase? You basically borrow from yourself in order to buy a house? Instead of paying a mortgage, you slowly redeposit the money back into your 401(k).
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Re:If You Want to Go Broke, Listen to a Billionaire
by isoskeles on Wednesday October 02, 2019 @08:40PM
(#21142412)
At most for $50k, so it would need to be a very cheap house. You can't borrow more than $50k or half of your 401k assets, whichever is lower.
You could take out for your down payment to avoid PMI, although I don't think that's what was being discussed in the example. (It wasn't worded so clearly to me though.)