Podcast Episode 30: Should You Invest In A 401k Or Any Employer Sponsored Retirement Account?
Should you invest in your employer's 401k (or other retirement plan)? I'm sharing my thoughts on why this is not a good idea unless it's a dire dire emergency.
Unfortunately, I’ve seen too many instances where people think of their retirement savings as their emergency fund and leverage it for minor emergencies and even non-emergencies.
Withdrawing or loaning money from your retirement savings means you are robbing your future self of potential long term earnings by taking your money out of where you have it invested (even if it’s as a loan).
I'm talking through all the reasons why you shouldn't do it and what it could REALLY cost you!