What to do with 401k through employer

[Aaron Barrett]

My employer matches 50c on the dollar up to 8% of my income. My wife has the same match. We currently make about $100k annually together and in 2 months it will go to $140-150k. Is it a viable strategy to dump all extra money into our 401ks until we have around $100k to put down on a larger apartment complex? Using the gains to speed up the process to be able to loan the money to ourselves?

[Dmitriy Fomichenko]

Thanks for the mention @Jeff Greenberg.

Aaron, if I were you I would take advantage of the matching and contribute up to that amount to your 401k. This is free money, in your case it is $6,000. In essence you are getting 50% return on your money, guaranteed. Would be unwise not to do that. 

As Jeff mentioned if you are with the current employer you typically can't rollover those funds into self-directed IRA or 401k until you are either no longer employer or reach a retirement age. However, your plans may have loan option allowing each of you to pull the loan our from your respective accounts up to $50K or 50% of the balance, whichever is less. You may want to inquiry with your plan administrator if such provision exists in your plan.