• http://weakonomics.com The Weakonomist

    I just got a question from a co-worker about borrowing. She wants to use it to buy a car… Whew lesson learned.

  • http://www.df-money-advice.com David Stillwagon

    I know a lot of people feel that since they have lost so much in the past year on their 401k that it is tempting to take it all out. But that would be making matters even worse. Eventually the market will go back up and their 401 will too.
    Treat 401k money like you can’t get to it.

  • http://6bubbles.com SJ

    More importantly you would be ignoring the opportunity cost by taking money out of the 401k. I mean, money is only there cuz you think it will grow =)

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  • Pouline Steve

    It is a very good advice. Thanks for you.

  • marysia13303

    UK fixed rate mortgages

  • Miranda Marquit

    Yikes! THAT’S what savings accounts are for — saving up for a down payment on a car.

  • Miranda Marquit

    You make a very good point. Eventually the stock market will recover. You don’t actually sustain a loss until you sell your stake…