Pay off 401K loan balance of approx $16,000
What this achieves: Paying off this balance moves money into a tax deferred investment account, without having to save it through a employer sponsored scheme or it counting against my
This helps me to buy assets using before tax income, and deferred paying taxes on the gains I make until I withdraw the money.
Once I have paid off this balance, I can still take new loans from my 401K, or potentially roll the balance into my Traditional IRA to reduce the number of different retirement accounts.
Date Completed: April 30 2020
