Should You Borrow From Your 401(k) Account
Posted on July 2, 2009
Filed Under Loans |
If you have a 401(k) account, it can be very tempting to borrow from your account especially when your balance is very high and a loan could easily pay off existing debt, fund a home purchase, or pay for college tuition. Before you make the decision to borrow money, there are several things you must keep in mind to avoid risking your funds. Borrowing from a 401(k) can seem like a risk free loan, especially since you repay yourself with Interest. However, there are costs involved that are not r
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