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joec
ParticipantI’ve borrowed from my 401k before as well. I think in terms of the cost of getting money, this isn’t a bad way to do it. For a home purchase, I think you could also give yourself longer loan terms as well to stretch out your payments if you need to.
I did notice various small fees they charge, but in the grand scheme of things…for 50k, there aren’t many cheaper options to access money. Especially since you’re paying the loan interest back to your account.
If someone mentions it, in regards to double taxation, here is a write up about that as well (there isn’t any):
Guaranteed savings interest is very low now so tapping any cash earning low returns and saving $300 on PMI or whatever it costs sounds like a good idea to me.
ParticipantI’ve borrowed from my 401k before as well. I think in terms of the cost of getting money, this isn’t a bad way to do it. For a home purchase, I think you could also give yourself longer loan terms as well to stretch out your payments if you need to.
I did notice various small fees they charge, but in the grand scheme of things…for 50k, there aren’t many cheaper options to access money. Especially since you’re paying the loan interest back to your account.
If someone mentions it, in regards to double taxation, here is a write up about that as well (there isn’t any):
Guaranteed savings interest is very low now so tapping any cash earning low returns and saving $300 on PMI or whatever it costs sounds like a good idea to me.
ParticipantIt’s been a while, but I will occasionally play M.U.L.E., Archon I and II every few years. 🙂
ParticipantIt’s been a while, but I will occasionally play M.U.L.E., Archon I and II every few years. 🙂
ParticipantIt’s been a while, but I will occasionally play M.U.L.E., Archon I and II every few years. 🙂
ParticipantIt’s been a while, but I will occasionally play M.U.L.E., Archon I and II every few years. 🙂
ParticipantIt’s been a while, but I will occasionally play M.U.L.E., Archon I and II every few years. 🙂
December 10, 2010 at 9:19 PM in reply to: Pigg’s thoughts on SD neighborhoods with the best price per public school ratings #638376ParticipantI think this depends more on how much space you actually need since smaller homes generally have much higher $/sqft than large homes. Some massive mcmansion in many good school districts actually have very attractive $/sqft, but might not be really priced well depending again, on your needs.
December 10, 2010 at 9:19 PM in reply to: Pigg’s thoughts on SD neighborhoods with the best price per public school ratings #638448ParticipantI think this depends more on how much space you actually need since smaller homes generally have much higher $/sqft than large homes. Some massive mcmansion in many good school districts actually have very attractive $/sqft, but might not be really priced well depending again, on your needs.
December 10, 2010 at 9:19 PM in reply to: Pigg’s thoughts on SD neighborhoods with the best price per public school ratings #639030ParticipantI think this depends more on how much space you actually need since smaller homes generally have much higher $/sqft than large homes. Some massive mcmansion in many good school districts actually have very attractive $/sqft, but might not be really priced well depending again, on your needs.
December 10, 2010 at 9:19 PM in reply to: Pigg’s thoughts on SD neighborhoods with the best price per public school ratings #639164ParticipantI think this depends more on how much space you actually need since smaller homes generally have much higher $/sqft than large homes. Some massive mcmansion in many good school districts actually have very attractive $/sqft, but might not be really priced well depending again, on your needs.
December 10, 2010 at 9:19 PM in reply to: Pigg’s thoughts on SD neighborhoods with the best price per public school ratings #639480ParticipantI think this depends more on how much space you actually need since smaller homes generally have much higher $/sqft than large homes. Some massive mcmansion in many good school districts actually have very attractive $/sqft, but might not be really priced well depending again, on your needs.
December 10, 2010 at 9:09 PM in reply to: Let’s speculate effect of a massive earthquake on RE and CA economy. #639025ParticipantI think after Katrina, housing prices shot up for places which were ok as well…I assume after a massive earthquake, there will be a TON of jobs to rebuild and replan, etc…unless part of the state falls in the Pacific, then maybe folks inland will now live on the coast. 🙂
December 10, 2010 at 9:09 PM in reply to: Let’s speculate effect of a massive earthquake on RE and CA economy. #639159ParticipantI think after Katrina, housing prices shot up for places which were ok as well…I assume after a massive earthquake, there will be a TON of jobs to rebuild and replan, etc…unless part of the state falls in the Pacific, then maybe folks inland will now live on the coast. 🙂
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