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A 401(k) loan that isn't repaid on time is treated like a retirement plan withdrawal. If you're not yet 59 and 1/2 years old, that means you'll risk a 10% early withdrawal penalty on the sum you ...
Before deciding to borrow money from your 401(k), keep in mind that doing so has its drawbacks. You may not get one. Having the option to get a 401(k) loan depends on your employer and the plan ...
There are good reasons to borrow from a 401(k), but there aren’t many, according to Stephen Kates, CFP, principal financial analyst for Annuity.org and a former wealth management advisor.
Compare rates, terms and fees from traditional lenders to evaluate whether borrowing against your 401(k) is the best move for you. Borrowing against your 401(k) to purchase a car can be tempting ...
If you have money set aside for retirement purposes, it's generally best to keep it where it is and avoid using it. This is especially the case with retirement accounts, like 401(k)s or IRAs. Not ...
What is a 401(k) plan and how does it work? A 401(k) plan is a tax-advantaged retirement savings tool offered by employers that allows eligible employees to contribute a portion of their salary up ...