Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com - View Single Post

The_bald_eagle_machine · 02-06-2024, 12:47 PM

I just moved from Fort Lauderdale to the Ocala/Gainesville area, because living in Miami is ridiculous. The homeowners insurance and property taxes pushed me out of the area. I recommend moving to a different area as Miami is quickly becoming a place reserved for the rich and wealthy.

I have a 401k and have ran into many financial issues as most people do. Most 401k programs will allow you to borrow from your 401k as long as you make weekly payments towards the loan. I can borrow up to 100% of my personal contribution at a fixed 5% interest rate, and the best part is... The interest is just reinvested back into my 401k... I don't get taxed on the money since I am paying it back on a loan, and I am actually paying into my 401k with the interest. Last time I borrowed 6k and paid $40 a week for 48 months. Which helped me fix a broken pipeline under my fort lauderdale home right before i sold it during the covid housing boom.

How much is in your 401k account?

02-06-2024, 12:47 PM	#29
The_bald_eagle_machine Anthony S Drives: 2011 chevrolet camaro 2ss/rs Join Date: Apr 2021 Location: Chiefland, FL Posts: 887	I just moved from Fort Lauderdale to the Ocala/Gainesville area, because living in Miami is ridiculous. The homeowners insurance and property taxes pushed me out of the area. I recommend moving to a different area as Miami is quickly becoming a place reserved for the rich and wealthy. I have a 401k and have ran into many financial issues as most people do. Most 401k programs will allow you to borrow from your 401k as long as you make weekly payments towards the loan. I can borrow up to 100% of my personal contribution at a fixed 5% interest rate, and the best part is... The interest is just reinvested back into my 401k... I don't get taxed on the money since I am paying it back on a loan, and I am actually paying into my 401k with the interest. Last time I borrowed 6k and paid $40 a week for 48 months. Which helped me fix a broken pipeline under my fort lauderdale home right before i sold it during the covid housing boom. How much is in your 401k account? __________________ Follow me on instagram @The_bald_eagle_machine https://www.camaro5.com/forums/showthread.php?t=600181 Mods: Texas Speed 2 inch headers, high flow cats, and X-pipe. Custom mid-pipe, Borla Xr1 mufflers. Torqstorm Supercharger, 3.1" pulley, ZL1 fuel pump. MGW Shifter, Mcleod RST clutch, Tick master cylinder and Tick Billet bushing reinforced slave cylinder. DSS One-piece 3.5" Driveshaft, Metco Driveshaft safety loop, BCRacing Coilovers. BMR Poly Diff bushings, Poly Rear cradle bushings, Sub-frame connectors, Lower control arms, camber arms, and toe links.