401K Loan Scottsbluff NE

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Mr. Rick A. Morehouse, CFP®
(308) 635-7766
1212 Circle Dr
Scottsbluff, NE
Firm
Platte Valley Investment Center, Inc.
Areas of Specialization
Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Investment Management, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,000 or less

Profession: Medical/Dental Professionals

Data Provided By:
Mr. Troy A. Herman, CFP®
(308) 436-2188
1524 10th St
Gering, NE
Firm
Wiedeman Financial Services, LLC
Areas of Specialization
Asset Allocation, Banking, Comprehensive Financial Planning, Debt Management, Employee and Employer Plan Benefits, Investment Management, Retirement Planning

Data Provided By:
Mr. Myron R. Gompert, CFP®
(308) 623-0101
1450 Center Avenue
Mitchell, NE
Firm
Gompert Financial
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Healthcare Planning, Securities

Data Provided By:
Jason Hiley
Karstens Investment Counsel, Inc.
(402) 492-2727
10250 Regency Circle, Suite 100
Omaha, NE
Expertises
Women's Financial Planning Issues, Advising Medical Professionals, College/Education Planning, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Charles Casey Knake, CFP®
(402) 379-1811
314 N 5th St Ste 400
Norfolk, NE
Firm
Heritage Financial Services
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Business Executives

Data Provided By:
Mr. Chris E. Nelson, CFP®
(308) 632-7587
1701 1st Ave
Scottsbluff, NE
Firm
Valley Financial Planning
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, General Financial Planning, Insurance Planning, Investment Management

Data Provided By:
Mr. Dennis W. Wiedeman, CFP®
(308) 436-2188
PO Box 606
Gering, NE
Firm
Wiedeman Financial Services, LLC
Areas of Specialization
Comprehensive Financial Planning

Data Provided By:
Michael Karstens
Karstens Investment Counsel, Inc.
(402) 492-2727
10250 Regency Circle, Suite 100
Omaha, NE
Expertises
Advising Medical Professionals, Estate & Generational Planning Issues, Ongoing Investment Management, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, AIFA, BS, CFP®

Keith Smith
K.P. Smith Asset Management
(402) 392-0509
9910 N. 48th Street Suite 112
Omaha, NE
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, Estate & Generational Planning Issues, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, PhD

Mr. Jason R. Rolf, CFP®
(402) 484-7526
1001 S 70th St Ste 201
Lincoln, NE
Firm
Waddell & Reed
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Planning, Long-Term Care, Securities, Wealth Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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



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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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