11 min listen
2636: Understanding 401k Loans by Mike Ballew of EggStack on Double Taxation & Financial Ruin
FromOptimal Finance Daily - ARCHIVE 2 - Episodes 301-600 ONLY
2636: Understanding 401k Loans by Mike Ballew of EggStack on Double Taxation & Financial Ruin
FromOptimal Finance Daily - ARCHIVE 2 - Episodes 301-600 ONLY
ratings:
Length:
10 minutes
Released:
Feb 26, 2024
Format:
Podcast episode
Description
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Episode 2636:
Mike Ballew of EggStack.com delves into the intricacies of 401(k) loans, highlighting the consequences such as lost investment opportunities, the impact on future contributions, and the double taxation dilemma. Ballew advises against 401(k) loans, suggesting lifestyle adjustments or hardship withdrawals as preferable alternatives, underlining the importance of preserving retirement savings for financial security.
Read along with the original article(s) here: https://eggstack.com/blog/2021-06-13-Understanding-401(k)-Loans/
Quotes to ponder:
"A 401(k) loan is a bad idea. Not only does it do significant harm to your retirement savings, it places you at risk for a calamity that could lead to your financial ruin."
Learn more about your ad choices. Visit megaphone.fm/adchoices
Episode 2636:
Mike Ballew of EggStack.com delves into the intricacies of 401(k) loans, highlighting the consequences such as lost investment opportunities, the impact on future contributions, and the double taxation dilemma. Ballew advises against 401(k) loans, suggesting lifestyle adjustments or hardship withdrawals as preferable alternatives, underlining the importance of preserving retirement savings for financial security.
Read along with the original article(s) here: https://eggstack.com/blog/2021-06-13-Understanding-401(k)-Loans/
Quotes to ponder:
"A 401(k) loan is a bad idea. Not only does it do significant harm to your retirement savings, it places you at risk for a calamity that could lead to your financial ruin."
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Feb 26, 2024
Format:
Podcast episode
Titles in the series (100)
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