Current Symantec employee here who is planning to buy a house. Symantec’s 401(k) plan enables employees to take a loan of up to $50,000 from their 401(k) towards the purchase of a house. Does Broadcom’s 401(k) plan include a similar provision?
Thanks in advance for any assistance in answering this question.
Don't make any decisions like that until you quit and join a company where your job is secure. Not Broadcom.
lay off or not, it is not a good idea to borrow from your 401K. The borrowing provision comes from the IRS, companies has nothing to do with that. You can borrow
Yea not a good idea to buy a house right now. Broadcom is going lay-off at least half the company. You watch. People you thought could never get let go could be cut. Or maybe they volunteered to be cut. I would wait
Except you won’t last long for the loan, most likely you will be laid off before the loan term and you will have to pay it off to avoid penalties so don’t do it.
Yes, we have it the same @ 50k loan