MareiL

Thank you to all your response. They are very helpful. The excel spreadsheet showed me exactly how you guys arrived at the amount of $36,000. Thanks again. Hope the best for you. Take care. So nice you guys helping someone like me who has no idea with this. So long...

I have a quick question. I wanted to pay off my 401K loan with an outstanding balance of $7,500, today 4/8/18. I called my my benefits retirement plan on Friday, 4/6/18, and told me that my highest balance within the 12 month period from today is about $14,000? I get confused a little bit. If I wanted to borrow, after I paid off my outstanding loan of $7,500, what is the maximum amount I can borrow? I have $110,000 vested balance including this $7,500? Is it $50,000 less the highest loan balance of $14,000 in a 12 month period?, even though I will fully paid the $7,500? which is $36,000? or $50,000? or $42,500? (ASSUMING this $7,500 is fully paid) Can someone please help me figure out? Because the plan administrator whom I talked to can't explain it fully to me. I appreciate any help, please. Thanks, Mareil