Timeline for Is it ever logical to not deposit to a matched 401(k) account?
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| Aug 20, 2016 at 22:57 | comment | added | JTP - Apologise to Monica♦ | A nice comprehensive answer. I'd agree 100%, know the rules of the plan. And run the numbers for worst case scenario. I deposit $4000 (net cost $3000) see a (vested) match, and borrow $4000 to pay my cards. I lose my job the next day. On the $8000, I owe $2800 tax and penalty, and still have $1200 cash. Add up the numbers, I still turned $3000 into $5200. I also would maintain there's a difference between taking a 401(k) loan and planning in advance to make deposits I otherwise wouldn't, and borrow the matched half back. | |
| Aug 20, 2016 at 22:11 | history | edited | Daniel Anderson | CC BY-SA 3.0 |
Deleted line that had no bearing on person's answer
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| Aug 20, 2016 at 21:48 | review | First posts | |||
| Aug 20, 2016 at 22:11 | |||||
| Aug 20, 2016 at 21:43 | history | answered | Peter | CC BY-SA 3.0 |