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--- money:retirement:main [2008/01/08 20:57] – david
+++ money:retirement:main [2008/03/21 18:07] (current) – david
@@ Line 3: / Line 3: @@
 NOTE:  You **CANNOT** re-balance your account until the DOW hits 14,000 again... let it ride until then.
-Your 401k is your best friend.  (I liken this to my mana vault)
+Your 401k is your best friend.  <del>(I liken this to my mana vault)</del> -- see note below on double tax on loan repayments!  doh!
@@ Line 10: / Line 11: @@
   * 2008 401k Contribution Limit: $15,500
   * Loan repayment from money you've borrowed from your 401k does **NOT** count towards your yearly contribution limit. (according to our HR person at [[http://www.ssaihq.com|SSAI]] on 2007/12)
+  * You are DOUBLE taxed on any money you pay back via a loan... because you're paying into your 401k with post tax dollars, and then you get taxed again when you extract it (retire).  OUCH!