Related Posts
Chief
Anonymous User
Partner Interview (6th interview).
Good or Bad?
My referral had interviews w/ (1)
recruiter, (1) SM, then the series of
(3) 1:1's w/(1) MD and (2) SM's.
The recruiter said he will now have
an interview in Jan. w/ the PPMD.
He interviewed for a M role in
consulting for customer marketing.
11 YOFE
He does have a wide skill set and the
recruiter said it was all positive
feedback, just have to find out
where to put him (on the team he
interviewed for or another he is
qualified for).Deloitte
Additional Posts in The Real Estate Bowl
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
🍿
I did it many years ago. I paid it back same year when my bonus came through. It allowed me to avoid paying PMI and the fees were way lower than having a second mortgage.
I don’t think it’s always the right answer, but I wouldn’t say it’s always a bad option either.
Did the same! It was the best avoiding PMI. Not sure what’s current rate, but I paid like 2%… maybe now is not that convenient? 🤷🏻♀️ you need to analyze the numbers…
Subject Expert
It’s not a bad idea as long as you understand the rules and have a clear plan to pay it back.
Last I checked, you can borrow up to $50k or 50% of your vested amount. That doesn’t go very far in 2025 numbers…
If you leave or get laid off, your loan can be called due. So you need to have a plan tk be able to pay it back if that happens.
Also, some plans allow you to take out the loan for 15 or 30 yrs if it’s for the purchase of a house. Just giving additional information. Not saying you should take that long to pay it back.
I think if you want good answers here, you need to provide a lot more context. Monthly household income, current rent, amount of home you want to buy, how long you want to live in the city you are buying, net worth, age, how much of an emergency fund, etc. So many factors at play here.
what’s the interest rate brah
At least with the interest, you’re paying it back to yourself. Not a bank.
It’snot something I would advise for my clients! but then again I live in New York most of my clients live in areas where you’re not touching a house for under 1.5 million. And are looking for anyway to mitigate taxes not borrow money!
most of them are looking for ways to hide money like in a whole life you can put up to 68,000 a year in a whole life policy and not pay capital gains taxes on the return taxes, ordinary income. Of course there’s rules in order to do that but, that’s the name of the game like most of these guys who own companies with billions of dollars in stock they have a taxes by taking loans from their stocks, not from cashing in their stocks. With the promise to pay you back, but don’t pay it back.
Recently read a horror story about someone who borrowed 400k from their 401K to buy a house. They thought the taxes and fees were taken out. They weren't. During the next tax year he was required to pay 124,000 in taxes. Talk to an accountant and do your 'how to' research before moving forward
Subject Expert
You can take a loan of up to $50k or up to 50% of your vested amount to buy your first home without penalty.
Taking out vested money early with penalties is silly, especially if you haven’t accounted for those penalties.