I'm wondering what I should do in my specific situation. I'll start off by saying, I'm 24 and work road construction. I have about 53k in my 401k and have a loan out for 10k (for house down payment) and owe right around 7300. I am thinking about changing jobs because I'm getting sick of working 75-80 hours a week and want to have somewhat of a life. Plus I have a kid on that way that I'd like to see grow up. I've been trying to pay it off as fast as possible because I hate being in debt and because of that I have nothing in savings. Finished paying off my car last fall and have now been working towards this 401k loan. My question, with how much money I have in there, should I rollover my 401k, withdraw some and pay it off or see if I can get an unsecured loan to pay it off. The easy way in my eyes is to just take the tax and penalty hits but then again I everyone suggests against it. I looked up in the plan what the termination terms were and I would have to pay it off with in 15days. Any input would be greatly appreciated
Submitted June 07, 2017 at 07:42AM by Icenater13 http://ift.tt/2s3Xf7f
