Thrift savings plan loan

[Jason Avila]

I am coming up 20 years in the Army. Preparing to retire. Have paid down all debt except 3 mortgages and one vehicle. The plan was to retire debt free with exception of the vehicle. With the current COVID pandemic, TSP (Thrift Savings Plan) is allowing loans up to 100% of what's invested. I only have a little more than 80k in there but the repayment interest would only be .625%. And it all goes back to me anyway. This is only available through 22 Sept 2020.

Question is, should I take the loan out and find an investment? The repayment would be on a 5 year term so repayments would still be close to $1,400.

A few of f my concerns:

- I don’t have an investment lined up.

- opportunity cost of the a rising market.

- if it isn’t repaid before retirement it’s counted as a withdrawal. W/tax hits.

- monthly payment.

Open to all input. Thank you in advance.