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Financial Planning / Foolish 401(k)s
|Subject: 401(k) withdraw home purchase||Date: 4/17/1999 6:09 PM|
|Author: PaulieG||Number: 1719 of 25316|
I am 29 years old, and have $100,000 in my 401(k)
plan due to some profitable internet stock picks a
few years back.
I would like to withdraw some for first time purchase
of a home. Is this advisable? I would like to take
as much as $30,000 for 20% down on a place that
sells for $145,000.
Given my young age, I consider $100,000 to be a
great sum for retirement investments. I have the
rest of my life to earn and contribute to that 401(k),
and better to pay on a mortgage than rent.
Perhaps $30,000 is too great of a withdrawal -
What do you think of this idea in general for a young
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