Posted on 06/10/2011 12:31:19 AM PDT by Nachum
I’ve done it. In fact, I did it to get rid of a credit card. And, with one credit card left, and 6 months left on my loan to myself, I’m planning to do it again. Pay off the next card - all the while borrowing the money from myself to do it, paying myself the interest, as well.
Of course, the presupposes I do not use the credit card anymore - which I am not going to do.
>I think the better action would be to live within your means before considering loans.<
It depends on what they are doing with the funds. I doubt that the dollar will be worth anything soon. The 401’s maybe worthless in a few years. The buying power that it has NOW may be leveraged better using it today to buy what people will need tomorrow if you get my drift.
My concern aren’t with the folks who are cashing in their retirement funds because they don’t believe the funds will be worth much, that’s just business.
It is the people who are cashing in their funds trying to maintain an unrealistic standard of living.
They are the smart ones. They'll vote to replenish theirs with part of mine.
True enough.
I agree with that. Anyone who cashes in their funds just to keep up a status is being stupid.
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