Should I Take Out a 401(k) Loan?
Money Guy Show
00:00
Are You Taking Out a Four O One K Loan?
The typical millionaire, the lion share millionaires, around 57 years of age, reach millionaire status primarily through their retirement plan. When you pay back a loan, it is amortizing. That means that a portion of the loan repayment is principal and a portion is interest. If any outstanding prea debt is sitting out there, if you can't pay it without a pocket money, guess what? You're going to be paid back very quickly. Andgeon his ramsey solution is done.
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