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Don’t treat your 401k like a piggy bank
by dirtyfratboy August 28th, 2006 in Uncategorized, Retirement plansBesides, if you can pay for all this by dipping into your 401(k), well, what’s the harm? You’re paying interest to yourself, so the more you borrow, the more you’re feeding your 401(k), right? Wrong. The idea of a 401(k) as some sort of easy-to-tap piggy bank is dangerous for several reasons.
The best thing about credit cards is that world is at your feet. You can have a free conference call, a jet, a trip to the moon, anything, if you can afford the insurance for it. A personal loan can be granted against your card. You can go for mortgage or even mortgages.