Stop! Why Using Your 401(k) for a Home Is a Costly Mistake
The $146,400 average 401(k) balance reported by Fidelity as of late December represents a 66% gain over the last decade, yet liquidating these assets for a home purchase triggers a guaranteed 10% IRS early withdrawal penalty for those under age 59 ½. According to Yahoo Finance, the S&P 500 index recorded only five down years … Read more