Borrowing from 401(k) can be costly

Borrowing from 401(k) can be costly

There are 50 comments on the Connecticut Post story from Feb 24, 2008, titled Borrowing from 401(k) can be costly. In it, Connecticut Post reports that:

Trent Charlton knew the risks when he borrowed $10,000 from his 401 and cut his retirement savings in half.

Join the discussion below, or Read more at Connecticut Post.

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grandma

Newtown, CT

#1 Feb 25, 2008
grandpa and I never bought a thing on credit.When we needed some new chickens, we would wait until we had the dough saved up.You youngin's spend too much on things you do not need.

Since: Nov 07

Location hidden

#2 Feb 25, 2008
Amen, grandma!
Connecticut Sam

Waterbury, CT

#3 Dec 17, 2009
Amen Grandma and lynne

Since: Dec 09

Delhi, India

#5 Aug 19, 2010
its good to take out a payday loan then to pick from your 401k..
Sam From Connecticut

Milford, CT

#6 Aug 20, 2010
Not a good idea.
Had enough

Stevenson, CT

#7 Aug 21, 2010
Sam From Connecticut wrote:
Not a good idea.
What the hell do you know about a 401K or a paycheck? Obviously not much or you wouldn't have posted such a stupid comment. Amusing to get financial advice from a mental midget. STFU.
Had enough

Stevenson, CT

#8 Aug 21, 2010
The fact of the matter is NEVER tap into your 401K unless you are extremely desperate. It literally costs you more in the long run. Consider a loan or refinance your home if possible, it will work out better that way and you aren't hurting your retirement fund.
Caribbean Jack

Durham, CT

#9 Aug 21, 2010
Had enough wrote:
The fact of the matter is NEVER tap into your 401K unless you are extremely desperate. It literally costs you more in the long run. Consider a loan or refinance your home if possible, it will work out better that way and you aren't hurting your retirement fund.
Sam is right, and you agree with him. Do not tap into yur 401K unless you are extremely desperated of money.
MRS AVA

Spartanburg, SC

#10 Aug 21, 2010
Caribbean Jack wrote:
<quoted text>
Sam is right, and you agree with him. Do not tap into yur 401K unless you are extremely desperated of money.
Oh yes Sam we will listen to you ...NOT... you get every handout you can, which the Good working people pay for and don't give me that retired bull.Yes you are 68 but you never worked long enough to get SS or a 401
Caribbean Jack

Waterbury, CT

#11 Aug 21, 2010
AVA
Have you even met me? NO. How do you know so much about me, then? You do not. You are full of Manure. You were born and live in Nowwalk, and I never did. You do not know where I work. Yes I have many jobs, and spent four years in the Air Force as a clerk. That is where I learn how to type.
Your insults prove that you are A MEAN NASTY BA$TARD from HELL who make my life HELL and making my mental problems worst. You never graduated from any nurses school. NEVER. You just a SLUT, from South Carolina who have so much power on TD Owen,Phyllis, Lynne, DMR, BPT. Go F YOURSELF.
Bronx Born

Oxford, CT

#12 Aug 21, 2010
Had enough wrote:
The fact of the matter is NEVER tap into your 401K unless you are extremely desperate. It literally costs you more in the long run. Consider a loan or refinance your home if possible, it will work out better that way and you aren't hurting your retirement fund.
You are 100% point on. It's the worst thing you can do. Now I can only imagine who put those judge-its on your informative post. It has to be someone who is completely clueless about finances, investments, etc. I think it's pretty obvious who that person is.
Bronx Born

Oxford, CT

#13 Aug 21, 2010
Caribbean Jack wrote:
AVA
Have you even met me? NO. How do you know so much about me, then? You do not. You are full of Manure. You were born and live in Nowwalk, and I never did. You do not know where I work. Yes I have many jobs, and spent four years in the Air Force as a clerk. That is where I learn how to type.
Your insults prove that you are A MEAN NASTY BA$TARD from HELL who make my life HELL and making my mental problems worst. You never graduated from any nurses school. NEVER. You just a SLUT, from South Carolina who have so much power on TD Owen,Phyllis, Lynne, DMR, BPT. Go F YOURSELF.
Can you knock it off for once? You desecrate every sensible forum with this same stuff. For your own sake, as well as for the people you harrass daily, get some professional intervention. This isn't group therapy and the subject is not about you and your numerous issues. I guess you never played well in the sandbox either. Please just shut the hell up unless you have something of substance to say.
Bobby

Oxford, CT

#14 Aug 21, 2010
Bronx Born
Take your own advice, SH$T FACE.
Bronx Born

Oxford, CT

#15 Aug 21, 2010
The above comment doesn't warrant a response...too far beneath me. It comes as no shock to me that the Sam character is attempting to camoflauge himself with the various names....I wasn't born yesterday and I don't suppose anyone else was either. Plus he's getting his rocks off with the judge-its, does this character have no life or what?
Sahaline

Oxford, CT

#16 Aug 21, 2010
Bronx Born wrote:
The above comment doesn't warrant a response...too far beneath me. It comes as no shock to me that the Sam character is attempting to camoflauge himself with the various names....I wasn't born yesterday and I don't suppose anyone else was either. Plus he's getting his rocks off with the judge-its, does this character have no life or what?
Your head is full of Rocks. yes, it sad that the Sam Brothes get Mean Faces and Nuts from the Thugs and Bullies. Give them back to them. You were born 100 years ago, and should be place into a old people home.
MRS AVA

Spartanburg, SC

#17 Aug 22, 2010
Sahaline wrote:
<quoted text>
Your head is full of Rocks. yes, it sad that the Sam Brothes get Mean Faces and Nuts from the Thugs and Bullies. Give them back to them. You were born 100 years ago, and should be place into a old people home.
Sahaline ha ha ha I am going to add this to the names of your other imaginary friends Daniel. Goodness it is almost as funny as when you used Metamucil and Kunchock LMAO
MRS AVA

Spartanburg, SC

#18 Aug 22, 2010
Caribbean Jack wrote:
AVA
Have you even met me? NO. How do you know so much about me, then? You do not. You are full of Manure. You were born and live in Nowwalk, and I never did. You do not know where I work. Yes I have many jobs, and spent four years in the Air Force as a clerk. That is where I learn how to type.
Your insults prove that you are A MEAN NASTY BA$TARD from HELL who make my life HELL and making my mental problems worst. You never graduated from any nurses school. NEVER. You just a SLUT, from South Carolina who have so much power on TD Owen,Phyllis, Lynne, DMR, BPT. Go F YOURSELF.
I know so much about you as I know how to research people. You saw where we researched your arrest records and a whole lot of stuff as we wanted to find out just how nutty you are an Man because of the Freedom of information someone on these posts has information about you as far back as when you were put in the school in NH . You did not learn to spell or make a correct sentence I know a lot about you and you are just pissed because I am smarter and never gave information out that you can track so call me any name you want as you are just showing your childish demented mind.I do not have to qualify what degrees I have as that would be bragging.Whats your claim to fame..Being an Idiot and a vile one at that?

You can't even spell correctly it's Norwalk and if you do not want to be insulted I suggest stop insulting everyone else, but everyone has tried to reason with you, it is a shame it does not make any sense to you.EVERYONE tells you that you have ruined every post and you still do not see it...sad but true
Who Dunnit

Waterbury, CT

#19 Aug 22, 2010
Sahaline wrote:
<quoted text>
Your head is full of Rocks. yes, it sad that the Sam Brothes get Mean Faces and Nuts from the Thugs and Bullies. Give them back to them. You were born 100 years ago, and should be place into a old people home.
Sahaline????????? OMG, another personality surfaces. What the hell kind of stupid comment is this? Why do you assume that person is 100 years old, how crazy can you get. If anybody belongs in a home, its you dumbo.
Who Dunnit

Waterbury, CT

#20 Aug 22, 2010
MRS AVA wrote:
<quoted text> I know so much about you as I know how to research people. You saw where we researched your arrest records and a whole lot of stuff as we wanted to find out just how nutty you are an Man because of the Freedom of information someone on these posts has information about you as far back as when you were put in the school in NH . You did not learn to spell or make a correct sentence I know a lot about you and you are just pissed because I am smarter and never gave information out that you can track so call me any name you want as you are just showing your childish demented mind.I do not have to qualify what degrees I have as that would be bragging.Whats your claim to fame..Being an Idiot and a vile one at that?
You can't even spell correctly it's Norwalk and if you do not want to be insulted I suggest stop insulting everyone else, but everyone has tried to reason with you, it is a shame it does not make any sense to you.EVERYONE tells you that you have ruined every post and you still do not see it...sad but true
He doesn't give a damn what anyone thinks about him, he's in his own little crazy world. I swear I'd like to just see one day on here when he isn't stirring the pot with the name calling and the insults. then he wonders why people get all over his case.
Who Dunnit

Waterbury, CT

#21 Aug 22, 2010
MRS AVA wrote:
<quoted text> I know so much about you as I know how to research people. You saw where we researched your arrest records and a whole lot of stuff as we wanted to find out just how nutty you are an Man because of the Freedom of information someone on these posts has information about you as far back as when you were put in the school in NH . You did not learn to spell or make a correct sentence I know a lot about you and you are just pissed because I am smarter and never gave information out that you can track so call me any name you want as you are just showing your childish demented mind.I do not have to qualify what degrees I have as that would be bragging.Whats your claim to fame..Being an Idiot and a vile one at that?
You can't even spell correctly it's Norwalk and if you do not want to be insulted I suggest stop insulting everyone else, but everyone has tried to reason with you, it is a shame it does not make any sense to you.EVERYONE tells you that you have ruined every post and you still do not see it...sad but true
I just noticed this forum is 2 1/2 years old, who dug it up anyway? Oh wait, let me take a guess.

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