401K Loan Huntington WV

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

Mr. James D. Perry Jr., CFP®
(304) 529-6500
300 Tenth Street
Huntington, WV
Firm
JJB Hilliard WL Lyons Inc

Data Provided By:
Mr. John J. Sartaine, CFP®
(304) 528-7084
1200 3rd Ave
Huntington, WV
Firm
Morgan Stanley
Areas of Specialization
General Financial Planning, Investment Management, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Medical/Dental Professionals

Data Provided By:
Mr. Wesley H Richardson, CFP®
(304) 733-0011
102 Meadow Pointe
Barboursville, WV
Firm
Northwestern Mutual Financial Network
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning

Data Provided By:
Brandon Michael Cline, CFP®
(304) 733-0011
PO Box 207
Barboursville, WV
Firm
Northwestern Mutual®
Areas of Specialization
Business Succession Planning, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Planning, Special Needs Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Medical/Dental Professionals

Data Provided By:
Mr. Steven L. Simmerman, CFP®
(606) 920-9673
1600 Carter Avenue
Ashland, KY
Firm
Raymond James & Associates

Data Provided By:
Mr. Robert P. Simmons, CFP®
(800) 505-2030
704 4th Avenue
Huntington, WV
Firm
RBC Wealth Management
Areas of Specialization
Asset Allocation, Business Succession Planning, Education Planning, Estate Planning, Long-Term Care, Retirement Income Management, Wealth Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided By:
Mrs. Brandon B. Roisman, CFP®
(304) 529-1000
1200 3rd Ave
Huntington, WV
Firm
Morgan Stanley Wealth Management
Areas of Specialization
Estate Planning, Insurance Planning, Investment Planning, Long-Term Care, Mortgages, Retirement Planning, Wealth Management

Data Provided By:
Mr. W. Bret Hensley, CFP®
(304) 302-0272
609 Central Ave
Barboursville, WV
Firm
Creative Financial Solutions LLC
Areas of Specialization
Comprehensive Financial Planning, Investment Management, Tax Preparation

Data Provided By:
Mr. Michael W. Hobbs, CFP®
(606) 325-0404
503 Amanda Furnace Circle
Ashland, KY
Firm
Hobbs Financial Management LLC

Data Provided By:
Mr. Shaun Alan Kiser, CFP®
(606) 834-3027
900 Diederich Blvd
Russell, KY
Firm
Peoples Bank
Areas of Specialization
Investment Management

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