Using credit card balance transfers to fund 401k?

[AdamK47]

Don't listen to these naysayers. It's a great idea. Do it.

 

[Red Squirrel]

Going in debt to save makes no sense, you still have to pay off the debt somehow. You are just delaying the inevitable.

My parents tried that because a financial advisor said it was a good idea. They now owe over 100k to the financial company because the investments did not grow, they shrunk. investments are not guaranteed.

Invest/save money you have, not money you don't have.

 

[Sho'Nuff]

I know what a 401K match is. What I meant was that the was calling 2K a MEASLY amount. I guarantee that I make a lot more that the OP, and I do not refer to $2,000 as Measly.

Agreed. Particularly when he is contributing ~$4625 into the 401k. A $2000 match is a 100% return on just under 40% of his investment. Pretty damn hard to do better than that.

Also OP - with all due respect your plan is short sighted. Going into more debt now to reap potential gains later is VERY risky. Those gains might never materialize, but credit card interest will. And what happens when you run out of 0% balance transfer opportunities? Are you going to pay 15-20% interest on your CC debt?

Pay off your loans, then worry about retirement.

Also - pay a visit to Dave Ramsey's financial university site. I'm not a huge fan of him personally, but he and I share a common view when it comes to debt. Which is to avoid it like the plague except in very limited options.