So I'm a bit skeptical about the immediate future. Obviously, we've nearly rebounded to where we were early this year in terms of the general market (26k-27k), although my funds are still 3-5% down.
But with adding $4T (and soon another $1T+) in printed money to the market as well as a 32%+ decline in the economy, etc., I expect inflation is going to hit us at some point, regardless of if they raise interest rates, etc.
So with the CARES Act, there is access for people with withdraw up to $100k from their 401k funds to do things they need to do. I've considered doing this to pay off some debt, you can take this out without penalty, and have several years to try to repay it. Taxes can also be spread out over several years if you don't put it all back in.
So some would say it is shortsighted. I get that. But if the market isn't likely to rise and stay up for several years, and you're paying interest say on business loans, then this might be a strategy, then take that money you would normally be paying in payments and put it back in.
So it's a thought. Any discussion?
But with adding $4T (and soon another $1T+) in printed money to the market as well as a 32%+ decline in the economy, etc., I expect inflation is going to hit us at some point, regardless of if they raise interest rates, etc.
So with the CARES Act, there is access for people with withdraw up to $100k from their 401k funds to do things they need to do. I've considered doing this to pay off some debt, you can take this out without penalty, and have several years to try to repay it. Taxes can also be spread out over several years if you don't put it all back in.
So some would say it is shortsighted. I get that. But if the market isn't likely to rise and stay up for several years, and you're paying interest say on business loans, then this might be a strategy, then take that money you would normally be paying in payments and put it back in.
So it's a thought. Any discussion?