stebbins777
New member
imported post
What are your views on tsp loans?
Thanks, Dave
What are your views on tsp loans?
Thanks, Dave
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I guess it's okay to take out a tsp loan at 4% interest and pay off a credit card costing you 14-20%. But the key is....to pay of that tsp loan quick.
thanks for the reply
Yes, if you took a non-Thrift loan, you'd also be paying that off with after-tax dollars. And either way, if it's through a thrift loan, or if you don't take the thrift loan, you still pay the taxes on the withdrawals later.
My suggestion is if you do take the tsp loan, just take out the amount you would have had in the G fund anyway. When you pay it back, it's as if the money was just in the G fund the whole time. Don't borrow against the money you had in the S, C, or I funds.
I think I'll do that. Thanks for the advice.I highly doubt this is one of those message boards where only "tenured"members have a say. C'mon, it's just a message board. Once again, GET A LIFE!!
I think that is also a good idea. But the problem we have here is that posters here move around alot. So how do you know what % will be in the g fund to move. I've borrowed money from my TSP several months ago and I don't regret it. I have actual cash coming in to me now every month because of it. However, different people have different situation and just like what Dave M said, it should be used prudently and for emergencies. Thanks for posting. :^Actually, that sounds like a very good strategy VirginiaBob. Only take outa loan on the amount you would have had in the G fund. I read your other thread also and you are definitly ahead of the curve by at least having a strategy.
Now, the previous poster flamingyou on a tsptalk message board, is just flat out immature. Get a life mlk_man and grow up!!