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Updated over 2 years ago on . Most recent reply

User Stats

25
Posts
5
Votes
Vinny Incognoli
  • Westchester, NY
5
Votes |
25
Posts

Take loan out on TDA as a down payment?

Vinny Incognoli
  • Westchester, NY
Posted

My current TDA has an 80% variable and 20% fixed contribution rate. It has been this way for 20 years and done quite well. 
Recently the 80% portion has been pounded and I am losing money, lots. My company only allows 1 time per quarter to change contribution percentage. I changed it all to 100% fixed though this will not take affect until Jan. 2023, absurd!!! So I basically have to lose money and can’t do anything about it buy pray until January.

I was thinking of taking a 50k loan out to purchase a rental property which I believe would preserve my money. Otherwise I weather the storm and cross my fingers. 

I would love any advice you have. Thank you for your time. 

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