{ "media_type": "text", "post_content": "Finance/accounting fish -- \nI need to put down my deposit on my MBA for 2021:\n1) cash out investments?\n2) 401k loan given I'm going to convert 401k -> IRA to pay for MBA given lower tax rate?\n", "post_id": "5fae90c51bdb6200243c4361", "reply_count": 3, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Finance/accounting fish -- I need to put down my deposit on my MBA for 2021: 1) cash out investments? 2) 401k loan given I'm going to convert 401k -> IRA to pay for MBA given lower tax rate?

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This year only, due to COVID, you can withdraw up to $100k from your 401k penalty free and pay taxes over the next three years. If you’re in B school that means a huge tax savings. Normally you should never touch retirement funds, but imo the circumstances might warrant an exception here

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How much is the deposit?

Margin loans against investments could be a good option so you don’t have to cash out investments

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