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carlsbadworker
ParticipantI agree with that. And that’s why I want to know the piggs’ view of next boomtown.
ParticipantI agree with that. And that’s why I want to know the piggs’ view of next boomtown.
ParticipantI agree with that. And that’s why I want to know the piggs’ view of next boomtown.
ParticipantI agree with that. And that’s why I want to know the piggs’ view of next boomtown.
Participant[quote=XBoxBoy]bump – hoping more piggy’s will chime in with other alternatives. (Can never have too many choices)[/quote]
What’s the point? The money market rate has been dropping, whatever rate you find this week may be reduced next week. I joined Costco capital one account 1 months ago. At that time, it was considerably higher than ING. But, no longer… My only consolation is that Costco’s $60 interest credit for opening the account showed up pretty quick. That’s pretty good extra interest in today’s market.
Participant[quote=XBoxBoy]bump – hoping more piggy’s will chime in with other alternatives. (Can never have too many choices)[/quote]
What’s the point? The money market rate has been dropping, whatever rate you find this week may be reduced next week. I joined Costco capital one account 1 months ago. At that time, it was considerably higher than ING. But, no longer… My only consolation is that Costco’s $60 interest credit for opening the account showed up pretty quick. That’s pretty good extra interest in today’s market.
Participant[quote=XBoxBoy]bump – hoping more piggy’s will chime in with other alternatives. (Can never have too many choices)[/quote]
What’s the point? The money market rate has been dropping, whatever rate you find this week may be reduced next week. I joined Costco capital one account 1 months ago. At that time, it was considerably higher than ING. But, no longer… My only consolation is that Costco’s $60 interest credit for opening the account showed up pretty quick. That’s pretty good extra interest in today’s market.
Participant[quote=XBoxBoy]bump – hoping more piggy’s will chime in with other alternatives. (Can never have too many choices)[/quote]
What’s the point? The money market rate has been dropping, whatever rate you find this week may be reduced next week. I joined Costco capital one account 1 months ago. At that time, it was considerably higher than ING. But, no longer… My only consolation is that Costco’s $60 interest credit for opening the account showed up pretty quick. That’s pretty good extra interest in today’s market.
Participant[quote=XBoxBoy]bump – hoping more piggy’s will chime in with other alternatives. (Can never have too many choices)[/quote]
What’s the point? The money market rate has been dropping, whatever rate you find this week may be reduced next week. I joined Costco capital one account 1 months ago. At that time, it was considerably higher than ING. But, no longer… My only consolation is that Costco’s $60 interest credit for opening the account showed up pretty quick. That’s pretty good extra interest in today’s market.
January 14, 2009 at 11:10 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329013Participant[quote=asianautica]I could be wrong, but I think the $ you borrow will be taxed twice. You’re paying back with after tax $. When you withdraw later, it’ll be taxed again. So, unless I’m wrong or you’re in the 0% tax bracket, it doesn’t make sense to borrow from your 401k to refi. Also, if you quit or get fired, you need to pay that money back immediately. The $ in your 401k is protected from bankruptcy. They can’t go after that $. However, they can go after your house if you filed for bankruptcy.[/quote]
I think that’s absolutely correct. One extra angle of consideration is that you don’t want to put all your eggs in a single basket. So unless you have a huge 401K saving, you don’t want to take it out and put it into a house altogether. After all, house is a depreciating asset right now and stock market could turn around at any time.
January 14, 2009 at 11:10 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329353Participant[quote=asianautica]I could be wrong, but I think the $ you borrow will be taxed twice. You’re paying back with after tax $. When you withdraw later, it’ll be taxed again. So, unless I’m wrong or you’re in the 0% tax bracket, it doesn’t make sense to borrow from your 401k to refi. Also, if you quit or get fired, you need to pay that money back immediately. The $ in your 401k is protected from bankruptcy. They can’t go after that $. However, they can go after your house if you filed for bankruptcy.[/quote]
I think that’s absolutely correct. One extra angle of consideration is that you don’t want to put all your eggs in a single basket. So unless you have a huge 401K saving, you don’t want to take it out and put it into a house altogether. After all, house is a depreciating asset right now and stock market could turn around at any time.
January 14, 2009 at 11:10 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329424Participant[quote=asianautica]I could be wrong, but I think the $ you borrow will be taxed twice. You’re paying back with after tax $. When you withdraw later, it’ll be taxed again. So, unless I’m wrong or you’re in the 0% tax bracket, it doesn’t make sense to borrow from your 401k to refi. Also, if you quit or get fired, you need to pay that money back immediately. The $ in your 401k is protected from bankruptcy. They can’t go after that $. However, they can go after your house if you filed for bankruptcy.[/quote]
I think that’s absolutely correct. One extra angle of consideration is that you don’t want to put all your eggs in a single basket. So unless you have a huge 401K saving, you don’t want to take it out and put it into a house altogether. After all, house is a depreciating asset right now and stock market could turn around at any time.
January 14, 2009 at 11:10 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329450Participant[quote=asianautica]I could be wrong, but I think the $ you borrow will be taxed twice. You’re paying back with after tax $. When you withdraw later, it’ll be taxed again. So, unless I’m wrong or you’re in the 0% tax bracket, it doesn’t make sense to borrow from your 401k to refi. Also, if you quit or get fired, you need to pay that money back immediately. The $ in your 401k is protected from bankruptcy. They can’t go after that $. However, they can go after your house if you filed for bankruptcy.[/quote]
I think that’s absolutely correct. One extra angle of consideration is that you don’t want to put all your eggs in a single basket. So unless you have a huge 401K saving, you don’t want to take it out and put it into a house altogether. After all, house is a depreciating asset right now and stock market could turn around at any time.
January 14, 2009 at 11:10 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329534Participant[quote=asianautica]I could be wrong, but I think the $ you borrow will be taxed twice. You’re paying back with after tax $. When you withdraw later, it’ll be taxed again. So, unless I’m wrong or you’re in the 0% tax bracket, it doesn’t make sense to borrow from your 401k to refi. Also, if you quit or get fired, you need to pay that money back immediately. The $ in your 401k is protected from bankruptcy. They can’t go after that $. However, they can go after your house if you filed for bankruptcy.[/quote]
I think that’s absolutely correct. One extra angle of consideration is that you don’t want to put all your eggs in a single basket. So unless you have a huge 401K saving, you don’t want to take it out and put it into a house altogether. After all, house is a depreciating asset right now and stock market could turn around at any time.
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