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Has anyone ever used 401k money to purchase PMs?
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<p>[QUOTE="Clawcoins, post: 2757786, member: 77814"]Yes! It worked out perfectly for me.</p><p><br /></p><p>The money I saved from owning versus renting was enough to pay off the 401k loan in and by itself!!</p><p><br /></p><p>Now I have about 60% equity in the house as the market has risen; and I make payments above the minimum amount. I have a 30 year loan but on a 16 year payoff trajectory.</p><p><br /></p><p>But I don't recommend taking 401k money out for buying PMs.</p><p>PMs, to me are just a storage of wealth. Even though you pay yourself back interest on that loan it just doesn't make sense other than a "mental" thing in relation to gold/silver.[/QUOTE]</p><p><br /></p>
[QUOTE="Clawcoins, post: 2757786, member: 77814"]Yes! It worked out perfectly for me. The money I saved from owning versus renting was enough to pay off the 401k loan in and by itself!! Now I have about 60% equity in the house as the market has risen; and I make payments above the minimum amount. I have a 30 year loan but on a 16 year payoff trajectory. But I don't recommend taking 401k money out for buying PMs. PMs, to me are just a storage of wealth. Even though you pay yourself back interest on that loan it just doesn't make sense other than a "mental" thing in relation to gold/silver.[/QUOTE]
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