What card would you arrange financing to buy?

[G1911]

Originally Posted by raulus

Man.

After all of our marvelous disputations about cashing out your 401k to buy cardboard, I figured there would be more takers here.

Plus you’ve got all of the new fancy vaults with their lending features that seem so enticing to lever up to buy some exciting pieces!!

Naturally, I’m in the “no bloody way” camp.

I’m at a loss as to why the answer to debt is a resounding no but the answer to draining retirement accounts and taking a huge tax hit to buy cards one can’t afford was a “yes!”. You’d think that kind of “everything all in on cards” mentality would produce a yes to both, or if common sense is applied a no to both.

[parkplace33]

Originally Posted by G1911

I’m at a loss as to why the answer to debt is a resounding no but the answer to draining retirement accounts and taking a huge tax hit to buy cards one can’t afford was a “yes!”. You’d think that kind of “everything all in on cards” mentality would produce a yes to both, or if common sense is applied a no to both.

So I think the retirement question was a yes is because technically, you own that money and are not in debt to something.

[BobC]

Originally Posted by parkplace33

So I think the retirement question was a yes is because technically, you own that money and are not in debt to something.

Exactly! If you're working and using money you earned to buy cards, that is using after-tax money as well. Money you put into your 401K just hasn't been taxed yet, so what really is the difference, other than the timing of when you pay the tax on that money that you earned and is yours?

[Lorewalker]

Originally Posted by G1911

I’m at a loss as to why the answer to debt is a resounding no but the answer to draining retirement accounts and taking a huge tax hit to buy cards one can’t afford was a “yes!”. You’d think that kind of “everything all in on cards” mentality would produce a yes to both, or if common sense is applied a no to both.

Makes ya wonder if the food chain diagram needs to be redrawn, no? Humans are simply amazing.

To the OP, I would never finance a card purchase, liquidate a retirement account or use funds earmarked for another purpose to purchase a card.