this post was submitted on 25 Sep 2023
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United States | News & Politics

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Baby boomers are becoming homeless at a rate ‘not seen since the Great Depression’ (moneywise.com)
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[–] Jamie@jamie.moe 6 points 1 year ago* (last edited 1 year ago)

And borrowing on them is just a bad idea. At least in the case of my 401k, there's no early payoff, you don't make interest off it while it's borrowed, it really can hurt in the long term unless the loan amount is very small.

I looked out of curiosity because I want to buy a house somewhere in the next 5 years, and immediately ruled out any consideration of borrowing off 401k.