White House National Economic Council Director Kevin Hassett revealed Friday that the Trump administration is looking at options that would allow Americans to use their retirement funds to pay for a down payment on a house.
Hassett spoke about the plan during an appearance on Mornings With Maria on FOX Business, saying that President Donald Trump will “put the final plan out” during the Davos economic forum next week.
“The one you didn’t mention that we’re also talking about, and the president will put the final plan out in Davos next week, I’ll be flying up there with him, is that we’re going to allow people to take money out of their 401(k)s and use that for a down payment,” Hassett said, noting that it’s one of “a whole bunch of policies” the administration is working on to help people close the gap on the increasing cost of buying a home.
“You won’t be able to retire anyway, so take on this debt instead.”
Putrid-Ad-3965 on
Makes sense. You won’t need any money for retirement if there’s a nuclear world war.
MeyrInEve on
What could possibly go wrong?
So give up retirement savings to make an investment?
km3r on
Subsidizing demand will not solve our housing shortage. It will just push prices up.
Bigcouchpotato1 on
Did anyone run this by Suze Orman?
CrystalWeim on
Omg! He plans “to let them”?? You can take your 401k funds out without presidential approval!And you can spend it on whatever you like
Yep, that’s how stupid this guy is Equally as stupid are his followers for believing everything lie that comes out of his mouth.
Odd_Musician_4690 on
I wish he let us take it out for loan payment as well not just down payment…
PracticalChipmunk789 on
Um, you can already borrow against your 401(k) to buy a house
NursingManChristDude on
This was already permitted. Nothing about trump allowing anything 🙄
Dr_Tacopus on
He isn’t planning anything. You can already do it. Stop letting him take credit for existing policies
GrumpyTom on
I know people who did this 15-years ago….
StringerBell34 on
Trump taking credit for something that already exists.
GlitteringSwan8024 on
Don’t use your 401k for anything but retirement!!!
JonFrost on
Once again Trump and his supporters are stupid
PerryNeeum on
Spend your retirement on a house! Buy now and REALLY pay for it later.
17 Comments
By Peter Aitken — Weekend Politics Editor |
White House National Economic Council Director Kevin Hassett revealed Friday that the Trump administration is looking at options that would allow Americans to use their retirement funds to pay for a down payment on a house.
Hassett spoke about the plan during an appearance on Mornings With Maria on FOX Business, saying that President Donald Trump will “put the final plan out” during the Davos economic forum next week.
“The one you didn’t mention that we’re also talking about, and the president will put the final plan out in Davos next week, I’ll be flying up there with him, is that we’re going to allow people to take money out of their 401(k)s and use that for a down payment,” Hassett said, noting that it’s one of “a whole bunch of policies” the administration is working on to help people close the gap on the increasing cost of buying a home.
Read more: [https://www.newsweek.com/trump-plan-americans-401k-house-down-payment-11373330](https://www.newsweek.com/trump-plan-americans-401k-house-down-payment-11373330)
This was already a thing, stop it.
“You won’t be able to retire anyway, so take on this debt instead.”
Makes sense. You won’t need any money for retirement if there’s a nuclear world war.
What could possibly go wrong?
So give up retirement savings to make an investment?
Subsidizing demand will not solve our housing shortage. It will just push prices up.
Did anyone run this by Suze Orman?
Omg! He plans “to let them”?? You can take your 401k funds out without presidential approval!And you can spend it on whatever you like
Yep, that’s how stupid this guy is Equally as stupid are his followers for believing everything lie that comes out of his mouth.
I wish he let us take it out for loan payment as well not just down payment…
Um, you can already borrow against your 401(k) to buy a house
This was already permitted. Nothing about trump allowing anything 🙄
He isn’t planning anything. You can already do it. Stop letting him take credit for existing policies
I know people who did this 15-years ago….
Trump taking credit for something that already exists.
Don’t use your 401k for anything but retirement!!!
Once again Trump and his supporters are stupid
Spend your retirement on a house! Buy now and REALLY pay for it later.