I would like to request some advice regarding account structure from
the nice folks here:
I have a 401(k) into which a portion of every paycheck goes. I took
out a loan from that 401(k), and a portion of every paycheck also goes
into that.
I'm quite confused about how to handle this loan, as it seems to me
that it is both an asset and a liability. It is a liability, because
it is something that I must pay back. It is an asset because the
401(k) is essentially currently invested in this loan. It is a loan
from one account (401(k)) to another (checking), that is being repaid
out of an income account (pay).
Perhaps this is part of a larger question: how should I deal with the
401(k) in general? It has two mutual funds and a loan to me that it
is invested in, it receives deposits from my paycheck, and its value
fluctuates with the market. I've been just shoving the deposits in,
but this has been leaving out my company's matching funds and changes
in value, so the value of my 401(k) as reported by my bookkeeping
currently bears no relation to reality. I don't care about its value
being correct on a daily basis, but it might be nice to make it
occasionally correct.
(BTW, many thanks to all those who have worked on this great program,
and to those who kindly compiled it and packaged it in rpm.)
Any advice?
Thank you,
Todd Greer <[EMAIL PROTECTED]>
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