The Week Ahead – July 9, 2019: Taking a Loan from Your Retirement Plan = Bad Idea

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Why you should refrain from making this move. 

Thinking about borrowing money from your 401(k), 403(b), or 457 account? Think twice about that because these loans are not only risky, but injurious, to your retirement planning.

As you strive to repay the loan amount, there may be a financial side effect. You may end up reducing or suspending your regular per-paycheck contributions to the plan. Some plans may even bar you from making plan contributions for several months after the loan is taken.

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Last Week at the Office!

Taylor Financial Group July 4th in the office

 

 

Wednesday, July 3rd was “Dress Patriotically Day” at TFG. Everyone was sporting their Red, White & Blue in honor of Independence Day!

 

Pictured, L-R: Tyler Stalter, Ruth Engel, Jared Marzocco, Diane Curtin and Rob Papa Not pictured: Debbie Taylor, Rob Taylor and Ava Iorio.

 

 

Check out our featured blog post this week:

The New Abnormal

Dr. David Kelly, Chief Global Strategist of J.P. Morgan Asset Management, recently shared his economic outlook with us after the Federal Reserve’s meeting on June 19th, 2019.

He believes that on top of the imminent rate cute this month, that there could be another one by the end of 2019. He also notes that there is a rising market volatility, and that the market continues to be challenged by political and policy shifts, rising populism, trade conflict, and a pause on monetary policy normalization. Read further to find out more about his perspective on our economy.

Read the Rest Here!

 

Stay updated with:

The Weekly Market Commentary

and

Weekly Economic Update

 

Check out all this and more in The Week Ahead, Taylor Financial Group’s weekly newsletter.

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Have a question for Debbie about interest rate cuts or retirement planning in Franklin Lakes, NJ?

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