Timothy Sumer

I was asked about using a 401k Loan to invest in real estate. Here is my response. Join me Fridays @ 8 a.m. EST for a Live Q&A! ---------------------------------------------------------- Click here for a free 7-day trial to PropStream: This is an affiliate link, and I thank you a ton for using it...it helps me feed my kids! Want to join a group of like minded men to encourage you, hold you accountable, and help you reach your goals faster? Watch this video about the Seek Wisdom Mastermind group: and fill out an application at --------------------------------------------------------- About Ryan Ingram: I believe the meaning of life is to become the best version of yourself for the benefit of all those around you. Over the past 3 years, I have made drastic improvements to my life. Mainly, because my wife and I had our son; it was very important for us that she be a stay at home mom. Unfortunately, on my salary in law enforcement, I couldn't make that happen.

Should You Borrow against your 401(k)? In this video, CERTIFIED FINANCIAL PLANNER™ Professional Colin Exelby discusses this controversial topic. Some people think 401k loans are great planning tools and others say they are horrible. Which is it? Have you ever been told never, ever borrow against your 401k? Were you taught this by your parents? Did some financial advisor tell you that? Did you ask why? In my opinion, taking a 401k loan or TSP loan can be a good call in certain situations. Mostly when money is needed quickly and the repayment period is short. Like an emergency! Stick with me, and I’ll give you the ins and outs of 401k loans, when it makes the most sense, and why you shouldn’t follow old, outdated advice! TIME STAMPS : 00:00 Should you borrow against your 401(k)? 02:51 Ways to take money out of your company retirement plan 03:58 How does the loan work? 05:23 What happens to your investments when you borrow from them? 06:26 How do you pay it back? 08:08