401K Loan Sheridan WY

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

Holland Duell
Holland Duell Financial Strategies
(307) 672-6364
50 E. Loucks St,. Suite 210
Sheridan, WY
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Divorce Planning, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Socially Responsible Investments
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, MBA

Mr. J. Dennis Heizer, CFP®
(307) 672-1496
744 Adair Avenue
Sheridan, WY
Firm
First Interstate Bank
Areas of Specialization
Asset Allocation, Banking, Comprehensive Financial Planning, Education Planning, Elder Care, Estate Planning, General Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided By:
Karen R Miller, CFP®
(307) 673-2951
46 West Brundage Street
Sheridan, WY
Firm
First Federal Savings Bank
Areas of Specialization
Asset Allocation
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided By:
Mr. Holland B. Duell, CFP®
(307) 672-6364
50 E Loucks St Ste 210
Sheridan, WY
Firm
Holland Duell Financial Strate
Areas of Specialization
Estate Planning, Investment Management, Investment Planning, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Self-Employed Business Owners

Data Provided By:
Connie Brezik
Asset Strategies, Inc.
(307) 266-4525
111 West 2nd Street, Suite 608
Casper, WY
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Advising Medical Professionals, Retirement Planning & Distribution Rules, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, PFS

Ms. Karen R. Ferguson, CFP®
(307) 674-6288
2 N Main St
Sheridan, WY
Firm
DA Davidson & Co
Areas of Specialization
Asset Allocation
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided By:
Mr. Robert L Leibrich, CFP®
(307) 672-1494
16 S Main
Sheridan, WY
Firm
First Interstate Bank
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided By:
Dr. Nels A. Nelson Iii, CFP®
(307) 674-7494
PO BOX 1063
Sheridan, WY
Firm
New Life Financial
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Elder Care, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $100,000 or less

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

Profession: Not Applicable

Data Provided By:
Mr. Patrick F. Johnson, CFP®
(307) 672-3434
21 East Works Street
Sheridan, WY
Firm
Stifel Nicholas & Company
Areas of Specialization
Asset Allocation, Employee and Employer Plan Benefits, General Financial Planning, Long-Term Care, Retirement Planning, Wealth Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided By:
Holland Duell
Holland Duell Financial Strategies
(307) 672-6364
50 E. Loucks St,. Suite 210
Sheridan, WY
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Divorce Planning, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Socially Responsible Investments
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, MBA

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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