The Motley Fool Discussion Boards
Retirement Discussions / Retirement
|Subject: Re: Use 401K as collateral?||Date: 8/4/2011 7:31 PM|
|Author: gdett2||Number: 273 of 290|
I believe you missed one important point.
Any withdrawal from your 401K, other than rollover, will be subject to income tax.
When you payback the loan, there is no free transfer to the bank. There just isn't any such animal. You will pay income tax on that transfer.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|