Monday, August 8, 2011

Ive got a question about using my 401k for a first time home purchase?

i am saving for a down payment to purchase my first home. i did some research on using my 401k and plan to draw out half to add to my down payment. the question is, should i max out my 401k deductions in anticipation of drawing from it at a later date. would this save me taxes since it is 401k or would it work out the same if i left the deductions alone and just saved my paycheck? thanks.

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