"Paid" lunch?
How long did take for prudential to process your 401k loan
- Thread starter onehandsolo
- Start date
"Paid" lunch?
Tough Guy
Well-Known Member
That is very noble of you. I hope your kids appreciate you.
Orion inc.
I like turtles
It would be. I made two promises when my kids were born. That I would give them the opportunity for a college education by paying for it and that I would make sure they start out in life with help and no debt. My parents did it for me. I'll do it for them.
It makes for a better society. And I'll grow old in retirement knowing they will do better than me.
That's my purpose in life for them. I live a comfortable life with an extraordinary family. I want my kids to do better. And if that means I work a few more years longer so be it.
Orion inc.
I like turtles
They're loving kids so I hope so. But if they're successful and happy then that's all the appreciation I need.
Tough Guy
Well-Known Member
Not to sound like a sap, but that's quite heartwarming. A lot of younger people get things handed to them, but seemingly don't have the mentality to appreciate it. "The entitlement generation" as they say.
My parents did their best to do for me what you did for your kids. I don't have kids of my own yet but my wife and always talk of trying to plan financially to be able to do those things for our future kids.
brownmonster
Man of Great Wisdom
I helped my kids through college. Scholarships and loans got them the rest of the way. They will do better than me down the road while I'm retired watching them. I will not work longer then I have to.
UpstateNYUPSer(Ret)
Well-Known Member
My ex and I split their first year in college equally and we then split the remaining years 3 ways. This worked out well with our daughter, who graduated with about $22K in student loan debt. This did not work out so well with our son, who had a little too much fun in his freshman year and was asked not to return. He came back home, went to our local community college, state university and Clarkson University, all on his own dime.
He did not appreciate the opportunity that he had been given; however, he busted his butt from that point on and has done quite well for himself.
onehandsolo
Well-Known Member
I will not have to borrow from 401k. I was able to pull tighter enough from savings and checking to make 20% down and the seller agreed to pay the closing cost. My house payment and hoa fees will be less than what I am paying in rent. Thx for the replies. Hopefully this puts me back on track to retire at 58. Divorce can really real havoc on your finances.
UpstateNYUPSer(Ret)
Well-Known Member
Rather than start another thread, figured I'd just ask you. What kind of documentation did you have to show or give them for the loan? Looking on the website it seems to be quire the process.
UpstateNYUPSer(Ret)
Well-Known Member
Actually, the paperwork was not too bad. I had to submit the completed application and include a bill from the college which included their seal. They did charge $75 whether the loan was approved or not.
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