Ummm...the two statements The interest is like borrowing from your right pocket and paying it back from your left with 5% interest. and That is, any money you borrow is no longer in your 401K, its no longer in the market, its no longer growing, earning you interest, dividends, or anything else. are contradictory. Either it's earning 5% interest or it's not. The fact that the interest being earned is coming out of your pocket is irrelevant if you were going to be paying the interest to another lender anyway. So it is earning interest.AJ
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