Taking Money From Your 401(k) to Buy a House

In this week's video, Tom answers whether or not you should take money from your 401(k) to buy a house. You need to know all of the ramifications of taking a retirement account distribution BEFORE you do anything. Tom walks you through it all while offering up some other ways to tap that money. But the point remains that saving for a house in a retirement account is probably not a good idea! #401k #investing #buyingahome 0:00 - Ruined finances 0:43 - 401(k) withdrawal 1:40 - 401(k) loan 2:30 - Tax withholdings/penalties 3:17 - Hardship withdrawal? Probably not 3:53 - Where to save for a home https://www.marketwatch.com/story/i-r... Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. Tom Mullooly is an investment industry veteran of over 30 years. Prior to launching the "Mullooly Asset Show," Tom (along with his sons) recorded close to 200 podcasts and nearly 200 videos, which can be found on the site http://www.mullooly.net. The "Mullooly Asset Show" is a new chapter in furthering the education of investors young and old. We answer questions and cover topics that YOU bring up. Our topics and questions range from those brought up by clients to those sent in by our viewers. Get in touch with us here: Office: 1971 State Route 34 Wall Township, New Jersey 07719 Website: http://www.mullooly.net Facebook: www.facebook.com/MulloolyAsset Twitter:   / mulloolyasset   LinkedIn:   / mullooly   Email: [email protected] None of the content on our videos, podcasts, website or social media should ever be considered to be investment advice, financial planning advice or a recommendation to buy or sell investments. Nor should our content be considered research. Please our website for complete details. This video is not a recommendation to buy or sell any of the investments mentioned. None of the securities mentioned in this video represent past specific recommendations of Mullooly Asset Management. We rely on fundamental and technical analysis. Neither fundamental or technical analysis can predict the future, both methods have flaws. Past performance is no guarantee of future outcomes. Our Point & Figure charts are provided by our good friends at Dorsey Wright & Associates.