Those of you with $100K+ in 401K accounts, the Kung Flu Stimulus

Snouter

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Toddsterpatriot

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Anyone taking advantage of what is apparently an interest free loan? I am considering it just to buy a regional bank stock that currently yields over a 5% dividend. If the the loan is repaid in 3 years there is no tax.

Anyone taking advantage of what is apparently an interest free loan? I am considering it just to buy a regional bank stock that currently yields over a 5% dividend.

Or you could buy the bank inside your 401K?
 

MarathonMike

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Anyone taking advantage of what is apparently an interest free loan? I am considering it just to buy a regional bank stock that currently yields over a 5% dividend. If the the loan is repaid in 3 years there is no tax.

I would be concerned about a regional bank failing in a scary economy.
 

HereWeGoAgain

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Anyone taking advantage of what is apparently an interest free loan? I am considering it just to buy a regional bank stock that currently yields over a 5% dividend. If the the loan is repaid in 3 years there is no tax.

I would be concerned about a regional bank failing in a scary economy.
Our bank stocks took a huge hit with the virus but are rebounding really well.
 

odanny

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I took a loan from my 401K to put an addition on my house, I borrowed 50K back in 2017 and owe around 17K remaining, I get to pay myself back, and have a 4.25% interest rate that I pay………..to myself as well. No one gets anything back from my repayment but myself. I have a max. of two open loans at any one time, and this makes borrowing from a bank for most things obsolete, in my opinion.
 

Richard-H

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Why is it that USMB has so many financial geniuses who have shit tons of money and make awesome investments while AT THE SAME TIME are so miserable and express absolute hatred for the “deep state” which has permitted their largess?
Spoiled brats like to belly-ache.....they got nothin' better to do.....
 

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