Any "Latest & Greatest" about Delta?
05-24-2013, 06:25 PM
Gets Weekends Off
Joined APC: Aug 2010
Posts: 2,530
05-24-2013, 07:11 PM
Gets Weekends Off
Joined APC: Aug 2010
Posts: 2,530
I dunno Ten...
(Disclaimer: I've never borrowed from my 401K)
From what I've read (on the Internet, so it must be true, right?) borrowing from one's 401K is a last resort. For example:
8 Reasons To Never Borrow From Your 401(k)
Thinking of Borrowing Against Your 401k? Here's What You Need to Know | DailyPerk
401(k) Loans - Nine Things to Know About Borrowing from Your 401(k)
Perhaps I'm missing something (likely) but I don't see the advantage...
Suppose I borrow $50K and I pay myself 4% interest. That money is "growing" at 4% per year.
In the period 1928 to 2010, stocks earned an average of 11.3 percent, according to U.S. News and World Report.
So assuming average long term returns, I'm losing a net 7.3% on that 50K loan.
This strikes me as a bad deal. Please tell me what I'm missing.
(Disclaimer: I've never borrowed from my 401K)
From what I've read (on the Internet, so it must be true, right?) borrowing from one's 401K is a last resort. For example:
8 Reasons To Never Borrow From Your 401(k)
Thinking of Borrowing Against Your 401k? Here's What You Need to Know | DailyPerk
401(k) Loans - Nine Things to Know About Borrowing from Your 401(k)
Perhaps I'm missing something (likely) but I don't see the advantage...
Suppose I borrow $50K and I pay myself 4% interest. That money is "growing" at 4% per year.
In the period 1928 to 2010, stocks earned an average of 11.3 percent, according to U.S. News and World Report.
So assuming average long term returns, I'm losing a net 7.3% on that 50K loan.
This strikes me as a bad deal. Please tell me what I'm missing.
Amateur investors tap 401(k)s to buy homes - May. 20, 2013
05-24-2013, 09:05 PM
Gets Weekends Off
Joined APC: Jul 2009
Position: Lowest Pay I Could Find
Posts: 1,044
05-24-2013, 10:25 PM
Gets Weekends Off
Joined APC: Feb 2008
Position: Urban chicken rancher.
Posts: 6,070
USAA has gone downhill since it made the strategic change from only accepting military members to the public at large. I've been a member since 1979 and I'm seriously thinking of dumping them and finding a better more cost-effective insurance and banking organization. Its a shame really. They used to be unparallelled.
05-25-2013, 01:12 AM
Gets Weekends Off
Joined APC: Apr 2013
Position: Golf course, mostly.
Posts: 292
USAA has gone downhill since it made the strategic change from only accepting military members to the public at large. I've been a member since 1979 and I'm seriously thinking of dumping them and finding a better more cost-effective insurance and banking organization. Its a shame really. They used to be unparallelled.
05-25-2013, 04:24 AM
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Joined APC: Oct 2010
Position: Decoupled
Posts: 922
Like all real estate transactions, squeaky wheel gets grease.
No better than any other option. This was my third loan with them. Can't recommend them over anyone else.
05-25-2013, 04:33 AM
On Reserve
Joined APC: Jul 2008
Position: MSP7ERB
Posts: 1,886
USAA has gone downhill since it made the strategic change from only accepting military members to the public at large. I've been a member since 1979 and I'm seriously thinking of dumping them and finding a better more cost-effective insurance and banking organization. Its a shame really. They used to be unparallelled.
My sister is in management at Geico and says that USAA rates are good, keep the insurance...also they're very good at "bundling" services.
Thus far I haven't hit a glitch yet with the loan processor, he called yesterday and didn't foresee any problems.
05-25-2013, 04:51 AM
Gets Weekends Off
Joined APC: Oct 2010
Position: Decoupled
Posts: 922
On the bright side of things, the DECU Coweta office has a change machine in the lobby. I made $75.00 cashing in my change pile the other day.
05-25-2013, 05:18 AM
Gets Weekends Off
Joined APC: Apr 2008
Posts: 581
USAA has gone downhill since it made the strategic change from only accepting military members to the public at large. I've been a member since 1979 and I'm seriously thinking of dumping them and finding a better more cost-effective insurance and banking organization. Its a shame really. They used to be unparallelled.
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