401K Loan Beaver Dam WI

Looking for information on 401K Loan in Beaver Dam? We have compiled a list of businesses and services around Beaver Dam that should help you with your search. We hope this page helps you find 401K Loan in Beaver Dam.

Stacy M. Braaksma, CFP®
(920) 885-3388
PO Box 516
Beaver Dam, WI
Firm
Parent Dott CPAs
Areas of Specialization
Accounting, Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Education Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided By:
Mrs. Anna M Kottke, CFP®
(920) 387-6109
209 Horicon St
Mayville, WI
Firm
M&I Financial Advisors, Inc.

Data Provided By:
Mr. Nick A. Witte, CFP®
(920) 261-2375
535 Milford Street
Watertown, WI
Firm
Ameriprise Financial
Areas of Specialization
Tax Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,000 or less

Profession: Not Applicable

Data Provided By:
Mr. Greg A Schroeder, CFP®
(920) 262-8126
205 N Second Street
Watertown, WI
Firm
BMO Harris Financial Advisors
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Elder Care, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided By:
Jeffrey Lokken
Financial & Investment Management Group
(608) 779-0300
1837 East Main Street
Onalaska, WI
Expertises
Charitable Giving - Trusts & Foundations, Advising Medical Professionals, Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc

Mr. William H. Niemuth, CFP®
(920) 485-4612
319 E Lake St
Horicon, WI
Firm
SII Investments Inc

Data Provided By:
Mr. Michael E. Williams, CFP®
(920) 261-0511
402 Bernard St
Watertown, WI
Firm
Ameriprise Financial
Areas of Specialization
Retirement Income Management, Tax Planning, Wealth Management

Data Provided By:
Mr. Jeffrey S. Taylor, CFP®
(920) 262-2298
109 Oakridge Ct
Watertown, WI
Firm
ISB Financial Services
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Insurance Planning, Retirement Planning, Wealth Management

Data Provided By:
Jay Czarapata
SVA Wealth Management, Inc.
(262) 923-5199
18650 W. Corporate Drive Ste 200
Brookfield, WI
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Planning Concerns for Corporate Executives, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®, CRPS

Thomas Batterman
Vigil Trust & Financial Fiduciaries
(800) 950-8110
Satellite Office
Eau Claire, WI
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CTFA, JD

Data Provided By:

What Is A 401K Loan?

Answer:
As our 401K retirement accounts begin to build up value,

we may be tempted to want to gain access to the money. Generally speaking, this is a bad idea, because you are unplugging a good investment and only early the interest that you are paying yourself , but there may be times when this would be a decent idea.

Quite simply, a 401K loan is loan against the current balance in your retirement plan. Under current law, all plans must allow you to borrow money from them. However, this also makes it easy and tempting to not discipline yourself to stay out of the account. From a financial point of view, this is something to be avoided, but it is better than borrowing from a high interest credit card or a store front loan office.

Generally speaking, the younger a worker is, the more likely they are to borrow from it, because they see that they will not need the money for a long time. You can also choose which investments you want the loan from. The dangerous part of this loan is that if you are laid off or leave your job, the full amount is due, or it will be considered and early withdrawal and will be subject to penalties and taxes at your current rate.

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