Thinking about taking out a $50,000 roth 401k loan to fund some remodeling. This is the way I am thinking about it as a 59 year old and would like some feedback especially if I have some blind spots.
\- Taking profits without really taking profits.
\- Hedge against market downturn.
\- Low interest that I pay back to myself.
\- No double taxation as it is a roth. Post tax money in and tax free money out.
Are there any down sides other than missing out on market gains which at the age of 59 is not a huge consideration.
If I take out the money and there is a %10 correction then I am buying back in at a discount.
Thoughts?