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Key:
Admin,
Global Mod,
Mod
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Joined: Dec 2013
Posts: 28,429 Likes: 573
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 28,429 Likes: 573 |
I’m 44. Not note whatsoever.
I’d pay it. Can you use the 401k as a loan ? Interest on a 401k loan is about 2% over prime , so floats about 8-10 % . Granted he'd pay himself , but it's still double his 3.6 rate. In my mind not a good move. If he needed a small amount for a short time , a 401k loan could be an option. He'd also be missing gains on that 401k $ at possibly more than his payback rate. 401k's will only let you borrow for 5 years.
"When I say ever thing I mean ever thing." - Frankie
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