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Author: Hohum77 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76397  
Subject: Re: Company SOLD!! - My 401K !!? Date: 4/3/2007 6:00 PM
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I would like to begin investing, without the short term liability's hanging around my neck (aka: credit cards, loans) I would still have a nice chunk of change after the tax and 10% penalty hit. For investing in the long term, AND I would be able save, and pour money into the NEW
401k plan.


Thoughts?



So how much debt are we talking about?

I think you have a lot more options than you realize-
1. a 401k loan,
2. cut back on your 401k contribution until the debt gets managable from regular inflows
3. A combination of 1. and 2.

Each of those options save you on taxes and the penalty, so from my perspective they are better options.


Hohum
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