I have $20k in savings, I owe $6,000 to my 401k loan, that’s the only loan I got. I am debt free otherwise except for my house. Should I use my savings to pay off? Since people are talking about unemployment and being fired, I wanted to make sure I have enough, 👩🏾‍💻... What should I do? I initially took the loan to add to my home equity when I sell my house for a new house then covid hit.

like
Posting as :
works at
You are currently posting as works at

Pay it off...you will have greater flexibility if laid off to wait for a better opportunity if completely debt free.

like

Keep as liquid as possible til you get a better sense of your job stability. Then reasses.

like

My thought is keep your savings liquid. You can pay it off if you get canned. Otherwise no harm no foul

like

A loan from your 401K is a loan to yourself. So you’re paying interest back to yourself! So interest payments are going back in your own pocket and in case of a hardship it turns into a withdrawal without penalty (you’ll need to research what qualifies as a hardship).

So yeah, don’t pay it down. Keep cash liquid and ensure you have enough cushion to coast through this pandemic related downturn

smartfunny

Related Posts

I am selected in Lowe's India as an Associate Software Engineer, I am currently serving my notice periodin current organisation. Shall I consider joining lowe's india, considering current layoff and recession going on in market?

like

General question, and I suspect the answer is no. Are there any employment or exec comp-related jobs in the entertainment industry? Or, are there any law firms purely focused on entertainment that have a comp/employment/benefits group? I’m at a large firm with a lot of high profile artists, but I’d like to narrow my practice down to entertainment.

like

If anyone is planning on getting a chase freedom card lmk and use my referral code please!

like

Homeowners in Boston Proper (or greater Boston area): how did you approach the purchase from a financing perspective? Have decently high HHI, but it will still take a long time to save up a full 20% down payment.

like

How many different stocks you have in portfolio? I have 30. Is that too many?

like

Hi, I newly joined tcs, can anyone answer me, if I avail hdfc food card where all can i use it?

Other than LefgerX, anyone use any platforms for Bitcoin/Ethereum options?

like

Just heard that property prices are soaring in Florida, the news reported that mortgage rates are doubling. Meanwhile I’m over here in semi-rural Iowa, wondering if I will ever make a sale again…

like

One stock you would put all your money in...what is it?

like

Hows the job security in IqVIa technology division (quintiles).

Any layoffs or PIP's? What are the different ratings? Comments will help

My father is an accredited investor and invests in private companies. I said I’d give him $50k for one of the investments but technically it’s all in his name. 3x return. Any way to touch that money without double taxation (expecting to pay his highest tax bracket on the returns since shorter than 1 year and then gift tax above $30k)? Thinking about asking him to put it in a separate bank account in his name linked to my credit card - but still likely too much money to burn through.

like
funnylike

Covid test required to travel from Delhi to Newark? Getting conflicting advices. Traveling tomorrow.

like

Anyone used Savebetter as their investing platform? Any thoughts on the risk involved?

like

Does HSA money count towards my deductible ? Because….

It’s not counting right now 👀

like

People at my company claim to be supportive, promote great work culture but there’s actually no support at all just bunch of bs. I am in a situation where im not getting the support from my supervisors, BDs and everyone is fake all the time. I am genuinely putting in the work and not getting the benefits I deserve. What are some good companies to work for in Marketing/advertising in Toronto? Or how would u go about addressing stuff like this ?

like

Are profits from selling Accenture shares, bought on ESPP, subject to capital gains tax?

like

What's happening today that's causing all tech stocks to dive?

like

Anybody claimed relocation benefits as part of a new joiner?

I have 1-2 doubts?

like

Hi,. 24F YOE = 2years10months Work = DevOps and cloud (AWS) . I have two offers, both from same work. SAP Sal 11.7 fixed + 1.3 Vpay = 13LPA Airbus Sal 14.3 fixed + 2.7Vpay = 17.5 LPA and 5L joining (should be given back if early exit in 3years) Both companies have other benefits apart from CTC. Can anyone suggest which one to decide? I have some idea on SAP labs but not sure about airbus when it comes to work life balance, career growth, team. thank you and much appreciated

like

More Posts

Does anyone have examples / practice questions for LBO models? I need more practice to make sure I’m good to go

like

You know it's been a long fucking week when the fish in FB app look like just another tie

like

Are we?! Lol

Post Photo
likefunny

Anyone know the in house creative recruiter at either Spotify or Airbnb ?

like

I’ve got a hankering for a good spy movie. Whatcha got?

like

What is the salary bracket in Accenture Strategy and Consulting-Capability Network for a Level 9 Consultant role?

like

How is your school district approaching vaccine mandates?

like

I got an offer of $120k CAD+ Sign on bonus+ Benefits in Toronto area for a data engineer position with 5 years of experience. what are your thoughts should I accept it?

like

Is it worth to move from JPMC at Associate level to BOA Sr Analyst for 40 percent hike? Mumbai

like

What's a typical hourly wage for a new department manager? This is my first department specific job. (I've worked retail before but always floated between departments as a sales associate) I was recently promoted to be in charge of 2 of our smaller departments and I am the only employee who works in them on a daily basis.

like

Got an offer to go industry at Director level in LA, with two proposals:
144k + 25% bonus + 4000 rsu’s
Vs
130k + 25% bonus + 6500 rsu’s
Which would would you choose?

like

How to initiate the difficult conversation about raise with leadership?

like

In negotiations talks with a startup that’s offering a 8% lower base but touting that equity should cover the spread. Is there a rule of thumb to compare a total offer when equity is in the mix?

like

Got an offer from D to join GPS as a C, 2 years out of undergrad, no master, $80k base. Is this low? Location is DC

like

Age and current salary? 30 and 115k

likefunnyupliftinghelpful

Can anyone recommend good books or articles on startup org charts and hiring? Think we’ve hit early signs of product/market fit, but not sure who to hire next, in what order, and how the org should evolve over next few years.

like

Just joined ey this July and got my first review. It was a mix of almost always and usually. Is that bad? Someone said usually is bad? Please explain as I am confused

Looking for ideas for fun summer weekend toy car. Wife & I have daily drivers and we live up north where number of warm days is small. Looking for ideas something cheap (sub $25K) but fun on country roads when I don't have weekend kids car pool duty.

Everyone is getting 987 Boxsters or Miatas. I like those but prefer something more unusual or different. Thought about TVR 280 but maintenance in US can be tough. Thought Vanderhall but want "real car" with 3 pedals.

Any interesting ideas?

like

Can I get some likes please

Post Photo
likefunny

I am selected for exl noida.. They wants to work from office all days.. What kind of client they have

like

Additional Posts in Consulting

Can you use a counter offer to get more from your existing/ accepted new offer?

like

Anyone using the Whoop 3.0 band? I’m on the fence and want to ask some kind people in this bowl if in their experience are the analytics truly tailored for them and useful?
Thank you 🙂

like

Advantages of being offered board position at University for a course. It’s unpaid position with some time commitment however, it has fees to get in. This is a new concept to me so trying to understand perspectives why people accept positions on board.

helpfulfunny

Ice Cold Trae

likefunny

I applied to a role at Deloitte 2 weeks ago and haven’t heard anything yet. I checked online and it says my application is still pending review. How long does it usually take for a recruiter to reach out? I’m regretting not reaching out to someone for a referral😭

like

Salesforce 🐠: I see an open position that looks like a great fit, would anyone working there be so kind to refer me? I can DM you, please let me know. TIA!

like

Anyone bought a Toll Brothers built home? How did it turn out? They are generally expensive than other similar houses in the neighborhood. Are they worth it? Any things to keep in mind?

like
likehelpful

Outside of the annual health check & biometrics, what are some tests you'd recommend? Turning 40 this year. Check for insulin resistance? Vitamin deficiency? Thank you!

like

Best place to grab dinner in Detroit?

like

🐠 Family: Any MBA programs with strong Healthcare concentration/industry representation? Would love to ask you more questions.

like

How much can an IT audit senior expect to make in NYC?

like

International flying feesh - how early do I need to get there for my flight? First leg is just LAX to DFW.

like

Motion sickness cure/prevention while on a boat and drinking (aka no Dramamine)? It’s for a birthday party of a friend so pretty unavoidable

likehelpful

It bugs me when people reach out to me for help but then want me to set up any meeting/review session logistics.

I.E. “hey I know we haven’t talked but I heard you were good at X can you find time on my calendar for us to talk and also here’s a bunch of stuff I need you to review and provide a perspective on when we meet”

Am I wrong for being annoyed at this?

like

Is it just me, or do we have a clear lack of Women Partners in consulting?

likehelpful

First day back and already spent the first hour planning my PTO. 😂

likefunnyhelpful

Now that ear pieces and charger will no longer come with the new iPhones, I'm ready to get take the plunge and get the phone.

Why get shafted a bit when you can get shafted a lot? 😆

funnylike

Your thoughts on whether any of the WITCH companies are dieing or could go belly up? Which ones are going to see most growth in next 5 years?

like