401k question, wondering if i should close it?
401k question, wondering if i should close it?
my husband has a 401k through fidelity. with all the economy and everything going down should we just close it?
can they borrow money from it and if so will we get it back?
anything you can tell me would be great..i just want to know what will happen to all our money..
thanks
Answers:
src50: "They" cannot borrow from your 401(k).
2008-09-29 12:29:56
2008-09-29 12:29:56
Chosen Answer
jeff410: It would be illegal for them to borrow from it. Your husband is the only one who can borrow from it. You should not close it. I know this makes people nervous. But your contributions buy more when prices are low and you make more money later when the market goes up. And it will.
2008-09-29 12:36:50
jeff410: It would be illegal for them to borrow from it. Your husband is the only one who can borrow from it. You should not close it. I know this makes people nervous. But your contributions buy more when prices are low and you make more money later when the market goes up. And it will.
2008-09-29 12:36:50