My coworker did this too though not at such an extreme level. Instead of saving cash like I did with an equivalent income and family makeup, he decided to take a 401k loan for a down-payment on a house. This would be fine except he acts like he’s a financial genius and belittles others for doing it without taking out loans to pay for other loans. This same guy was recently talking about cashing out the rest of his 401k because of the recent market downturn and called me an idiot for increasing my contribution amount. I guess he lives by the “buy high, sell low” mantra.
My coworker did this too though not at such an extreme level. Instead of saving cash like I did with an equivalent income and family makeup, he decided to take a 401k loan for a down-payment on a house. This would be fine except he acts like he’s a financial genius and belittles others for doing it without taking out loans to pay for other loans. This same guy was recently talking about cashing out the rest of his 401k because of the recent market downturn and called me an idiot for increasing my contribution amount. I guess he lives by the “buy high, sell low” mantra.