NEVER USE A 401K TO BUY A HOUSE NEVER USE A 401K TO BUY A HOUSE NEVER USE A 401K TO BUY A HOUSE NEVER USE A 401K TO BUY A HOUSE NEVER USE A 401K TO BUY A HOUSE NEVER USE A 401K TO BUY A HOUSE NEVER USE A 401K TO BUY A HOUSE seriously, don’t ever do this 🙂

@BarbellFi I did it 35 years ago to buy a home at the Jersey Shore and it was the best decision ever made. I paid the funds back to my 401k.

@RobGerundo The first rule of compounding is you do not interrupt compounding 35 years ago you paid 6 blueberries for a house worth $2 million today. Doing this today will wreck your financially

@RobGerundo @BarbellFi Same. I took a $30,000 401k loan in 2019 to buy a condo in Santa Barbara, CA. Last year I sold that condo and made $300k profit on the equity. That loan is paid back to my 401k, I now have a house, and over 120k leftover to save/invest. Pretty good return on that loan.

@RobGerundo @BarbellFi Yes. Many others have too. Financial analysts who think they know everything are annoying.

@RobGerundo @BarbellFi Same jus not in jersey shores

@RobGerundo @BarbellFi 😂 sit down boomer.

@RobGerundo @BarbellFi You paid your loan back with after-tax money which is taxed again when you take your required distributions. Not the best deal.

@RobGerundo @BarbellFi That's a bit different than what's being proposed. From my understanding they're trying to allow a direct withdrawal instead of a loan against/from a 401k.

@RobGerundo @BarbellFi No you didn’t. People like you just show up and say shit like this because you need to push a certain narrative

@RobGerundo @BarbellFi If we’re being honest though Rob, majority of people doing it will be in their 30’s with virtually no money saved towards retirement and won’t put a lot into their 401k’s in the near future as they try and pay for their home. They’ll never retire.

@RobGerundo @BarbellFi Right. Give it to a financial planner thru commissions instead.

@RobGerundo @BarbellFi Most people don’t because they can’t.

@RobGerundo @BarbellFi Right. Borrowing against it is the way to go, not just cashing out.

@RobGerundo @BarbellFi Glad that worked out for you.

@RobGerundo @BarbellFi I live in Margate, NJ and the value keeps climbing. Jersey shore holds its value and then some.

@RobGerundo @BarbellFi Yes, borrowing against your 401k maybe a good option as long as you can pay it back in a few years

@RobGerundo @BarbellFi Boomers are insufferable.

@RobGerundo @BarbellFi this is the smart choice

@RobGerundo @BarbellFi I once fukt a whore no protection in Ethiopia. I was fine but was it a good idea?

@RobGerundo @BarbellFi Same retired before 50

@RobGerundo @BarbellFi Yep

@RobGerundo @BarbellFi Me too

@RobGerundo @BarbellFi 35 years ago LMFAOOOOO fuckin retarded wop

@RobGerundo @BarbellFi Do whatever tf you want!