No. of Recommendations: 0
Have a major impact question,
My 401K is on it's way to a nice return when I turn 59 1/2(35 now). I realize I could take money from 401K at 55, but the payments would be set forever? Sounds like inflation could hurt later on. Would like to reitre/work for myself prior to 55.
What do you think of borrowing $25K from my 401K and investing it in the stock market Foolishly? Non sheltered though.Then the government can't tell me when to retire. It would take me about 5 years to save enough to equal the $25K. Front load my stock port (about 10K now). My goal would be to live off the stock until I have access to my 401K. I would have to pay myself 10 1/2% to borrow my own money,but might be worth it. Jump start my stocks or wait for the 410K (Putnam mutual funds only).
Might cost now, but the pay off to retire early........
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