401k loans

Discussion in 'Old Dominion Freight Line' started by kenneth, Mar 17, 2019 at 9:18 AM.

  1. kenneth

    kenneth Well-Known Member

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    Noticed yesterday when I was looking at taking out loan that you can only have 1 now.I remember several years ago when they told us in yearly meeting that they were cutting it back to 2.Never heard them saying only 1.Wondering if anyone else heard the change.
     
  2. nrpick

    nrpick Active Member

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    They announced we can only have 1 when the raise info was put out last year.
     
    kenneth likes this.
  3. kenneth

    kenneth Well-Known Member

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    Never heard anything here.Crazy..
     
  4. theman101

    theman101 Member

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    Taking out these loans is an absolute bad idea ... it absolutely kills your retirement fund planning and really should never be used ... its far better to look for funds elsewhere and manage your finances better as not to need one ... with our income managing finances really isn't that hard a task, unless one spends like a child ... just my opinion
     
    LTLIndentured likes this.
  5. kenneth

    kenneth Well-Known Member

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    And Thank You for Opinion which I didn't ask for.All I ask is the answer to the topic in ?.
     
    RockerScience likes this.
  6. White

    White Well-Known Member

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    Typically in a 401(k) loan, the interest paid goes back into one’s account. In a relatively stale or down market, one’s account would be “dormant” anyway. Certainly a viable option. Beats paying an outside entity interest.
     

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