Can I Move 401k to IRA and take Loan for First Time Home Purchase?
A couple of points in response: You can take your old 401ks from previous employers and roll them over into an IRA. The IRA can be at a financial institution that allows individual stocks, ETFs, funds, etc., which considerably broadens your choices. (For example, you can set it up at a broker like T.D. Ameritrade.) Index funds give you the broadest diversification with the lowest fees. Individual stocks give you the least diversification. WIth only $58k I’d just leave it in indexes or in broad ETFs, but if you want to take a flyer on a stock or two, try to experiment first with a small percentage of that money. You may be able to arrange cash from your IRA — there are some special rules for first-time home buyers — but since you asked, I’d recommend either of these instead: (1) Just wait and accumulate more cash. It’ll be good practice for saving in the future. (2) Since your girlfriend has spare cash, split the down payment with her by signing a real official loan note to her for ha