401K Loan Grand Forks ND

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

Ms. Debbie Rae Albert, CFP®
(701) 746-5429
3425 S Washington St.
Grand Forks, ND
Firm
Ameriprise Financial Services, Inc
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided By:
Mr. Ryland E. Syverson, CFP®
(701) 775-8666
3001 32nd Ave S # A
Grand Forks, ND
Firm
Great Plains Financial
Areas of Specialization
Asset Allocation, Insurance Planning, Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided By:
Mr. Thomas M. Schuster, CFP®
(701) 454-3317
3265 Desert Star Ln
Grand Forks, ND

Data Provided By:
Mr. Roger M. Hodnefield, CFP®
(701) 746-5429
3425 S Washington St
Grand Forks, ND
Firm
Ameriprise Financial Services,
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, General Financial Planning, Insurance Planning, Investment Planning, Long-Term Care
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided By:
Mr. Vincent P. Brekken, CFP®
(701) 795-7471
PO Box 14296
Grand Forks, ND
Firm
Brady Martz & Associates

Data Provided By:
Mr. Carter J. Johnsen, CFP®
(701) 746-1365
2617 South Columbia Road
Grand Forks, ND
Firm
Stifel Nicolaus
Areas of Specialization
Investment Planning

Data Provided By:
Mr. John A Halstenson, CFP®
(701) 746-8319
2300 Library Circle
Grand Forks, ND
Firm
Thrivent Financial for Lutherans
Areas of Specialization
General Financial Planning, Insurance Planning, Long-Term Care, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided By:
Mr. Matthew R. Wilson, CFP®
(701) 757-4777
406 Demers Ave
Grand Forks, ND
Firm
Wilson Wealth Management, INC.
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: Not Applicable

Profession: Self-Employed Business Owners

Data Provided By:
Mr. Derrick P. Johnson, CFP®
(701) 746-8310
322 Demers Ave
Grand Forks, ND
Firm
Johnson Wealth Management, LLC
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Retirement Income Management, Retirement Planning

Data Provided By:
Mr. Jorin J Johnson, CFP®
(701) 356-3233
4820 30th Ave S Ste 100
Fargo, ND
Firm
Investment Centers of America
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Not Applicable

Data Provided By:
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.

...

Click here to read the rest of this article from QandAs.com