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Subject:  Re: The downside of 401k loans... Date:  2/10/2015  12:49 PM
Author:  aj485 Number:  309010 of 312956

I think that DW should probably look at the numbers before making a decision. To me, having to pay $13.8k in deductible interest over the next 10 years would be much more preferable than having to pay $19.3k in penalties and taxes in the next 14 months.

And I forgot to add - along with paying about $5.5k less in interest (even more if you pay off the HELoan earlier), you will be putting $48k back into your 401(k) plans that won't be there if you decide to take the money out as a distribution. Assuming 20 years growth at 6%, that's an additional $154k in your 401(k).

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