Anyone did 401k hard withdrawal for new home?

[Ravi860]

I know one can take 401k loan or do withdrawals. Pros and cons?

[csrcsr]

6 minutes ago, Ravi860 said:

I know one can take 401k loan or do withdrawals. Pros and cons?

50% loan tiskovcgu bro that money will be out of market u will oah interest to your account 

Cons koni funds they adk u to pay after leaving company very few better check that money will not be in growth

Pros emuntsyi paisalu avsaram unayi tisukunav not sure correct time because most of the funds depleted a lot in this market and ipudu house chustunav ante sahasam ane chepali

[Ravi860]

2 minutes ago, csrcsr said:

50% loan tiskovcgu bro that money will be out of market u will oah interest to your account 

Cons koni funds they adk u to pay after leaving company very few better check that money will not be in growth

Pros emuntsyi paisalu avsaram unayi tisukunav not sure correct time because most of the funds depleted a lot in this market and ipudu house chustunav ante sahasam ane chepali

ipudu chudatam ledu.. future lo! ikkada evaranna chesra ani

[csrcsr]

1 minute ago, Ravi860 said:

ipudu chudatam ledu.. future lo! ikkada evaranna chesra ani

Yaa not bad option if u are falling short for down payment,  but don't pull to make 30% or 40% down , if u cannot make 15 20% u need them not a bad option

[Swatkat]

2 minutes ago, Ravi860 said:

ipudu chudatam ledu.. future lo! ikkada evaranna chesra ani

Dnt take loan on 401k bro period

[cloud]

Pros : u can take 50% or 50k which is minimum . The interest u pay would be paid back to ur 401k

 

cons : may require hr approval . Nee 401k investment portfolio tagguddi . IF YOU GET LAIDOFF , YOU HAVE TO PAY BACK THE WITHDRAWN AMOUNT BY MARCH 31 . 

[sarvayogi]

life lo 2 things cheyyaddu

1)finger tho kelikify your gruddha..mamool pain undadu asala 

2)dont touch 401k unless you are dying tomorrow..its set for a reason for retirement..not for short term planning

[Pandubabu]

9 hours ago, Ravi860 said:

I know one can take 401k loan or do withdrawals. Pros and cons?

I took loan for my primary home.  Won't do Again . I had 0 dollars ,my entire 5% down payment was my 401k loan

Pros : in this market,  NO,because you are basically selling investments for loss and buying them slowly over loan tenure,  would be a stupid idea, Unless you are paying it back in 6months .in which case ,you don't need loan 

Cons : you loose investing in market for the amount you took as loan

If you loose job, you may have to pay back within 2months or within next tax year.

Withdrawal : never ever do that ..

Dm me for more ..