3rd Quarter 401k Back in the Positive November 30, 2006
For the 2nd quarter 2006, I wrote that my 401k performance was negative. In the 3rd quarter 2006, I did better but not by much. At least it’s in the positive range. My personal rate of return for the period ending September 30, 2006 was: 3.54%.
Hope you’re doing better than that.
Lately I’ve been thinking of reducing my contributions to 401k to the minimum contribution dollar amount an employee needs to contribute to get the maximum employer match in order to pay off some home equity line of credit, which is at approx 8% or so interest rate. I’ve already maxed out the 401k in the past few years so I’m thinking that I can take a break until my higher interest line of credit is paid off. Is this a smart idea?