Episode Details
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401(k) Loan Costs: Double Tax, Lost Growth, Job Loss Risk
Description
Thinking about borrowing from your own 401(k)? This episode covers the four costs most people miss, plus a scam tax twist and the Zelle trap.
In This Episode
✓ A pig butchering victim who lost $600,000, then got a $225,000 IRS bill
✓ The friend who pays for everything, and the red flags to watch for
✓ The 401(k) loan: four costs of paying yourself back
✓ A $4,000 hybrid premium and five drawbacks dealers skip
✓ The Zelle "friends and family" trap
✓ Check in on this week's Money Move: list your fixed and variable expenses
Resources
Win Ralph's Money giveaway: https://www.becomingfinanciallyconfident.com/giveaway
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Year-end review with Ralph: https://www.becomingfinanciallyconfident.com/yearend
Quicken Simplifi: https://www.becomingfinanciallyconfident.com/quicken
LawDepot: https://www.becomingfinanciallyconfident.com/lawdepot
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Companies Mentioned
Quicken Simplifi
LawDepot
Zelle
PayPal
Venmo
Cash App
Toyota
Hummer
Amazon
Hershey's
Reese's