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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building

wealth and outrageous generosity.

Oh, it's in New York City.

Hey Tom, how are you?

I'm great.

Thanks so much for taking the call.

I really appreciate it.

Sure.

What's up?

I know you had a lot of qualifiers to get to.

So I'll cut to the point.

So about a year ago, my mother needed a little bit of money to help purchase a home.

So I took money against my 401k to rent her some money, $50,000 with the proviso being

that which you sold another apartment you'd repay me.

I've decided that since it's my mother, I changed my mind that I don't want the money

back.

I'm just gifting her that money.

I do owe about $35,000 on my 401k loan.

The question I have for you is, so at the time I took the loan, the bank interest rates

that I was earning, I was only earning about 1%.

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