For some of you a dreaded financial question may stare you in the mirror at some point in your life. Should you borrow against your 401(k)? While all initial responders in your body say no, there could be a few instances where borrowing against a 401(k) may actually make sense. Here is my smart money moves take on when to make yourself a loan. In general, it is not a smart financial move to borrow against your 401(k) plan. There are many individuals who are quitting their job and considering starting up a new business. In order to start their new entrepreneurial venture, they will likely exit from their current employer. The additional problem is where will the new entrepreneur find the capital to open up their new business? Instead of cashing in your old 401(k), one tremendously creative option to potentially fund a new business is to set up your new corporation and create a Solo 401(k) plan. Solo ...
Read More →Should You Ever Borrow On A 401(k)?
Mar 18, 2014
Posted
At The Workplace, Featured Articles, Gen X & Y Financial Advice, Investments, Personal Finance 101, Retirement, TOP Financial Articles
Tagged 401 K Plan, Advisory Services Inc, Alpharetta Ga 30022, atlanta, Atlanta Eats Live, Atlanta Eats Radio, Atlanta Georgia, Atlanta Journal Constitution, Best Gen X Financial Advisors, Best Gen X Financial Planning, Best Gen X Money Manager, Business Owner, Business Owners, Complimentary Consultation, Creative Option, Dining tips, Entrepreneurial Venture, Financial Advice, financial advice to the X and Y Generation, financial advisor for gen x, Financial Decisions, Financial Institutions, Financial Move, financial planner for gen x, Financial Planning, Financial Question, Financial Situation, Gen X & Y Financial Advice, get a financial plan in place to learn how to pay yourself first, good investments, Husband And Wife, Initial Responders, Irs Penalty, make your money grow, New Business, oXYGen Financial, OxygenFinancial, Personal Finance 101, profitable, Retirement, Save Money, Should You Ever Borrow On A 401(k)?, Smart Money Moves, Start Up Capital, Sunday Paper, Taxable Income, Ted Jenkin, Unsecured Lines Of Credit, Vested Balance, Wife Team, won, your smart money moves
Comments 3