7 items to Realize about 401(k) Loans Before taking One

7 items to Realize about 401(k) Loans Before taking One

Loan Eligibility, Taxes, and Repayment Terms

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Borrowing from your own 401(k) is not the very best idea—especially that you won’t be able to find at any bank if you don’t have any other savings put toward your retirement years—however, when it comes to a financial emergency, your 401(k) can offer loan terms. Before you decide to borrow, make certain you completely understand the process and possible ramifications. (more…)

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