Should You Borrow From Your 401k?

From Not Made of Money

Many 401k plans will allow you to take out a loan while you are still working for the company. Not only do most plan administrators make the process of borrowing from your 401k easy, but many people have even been convinced that borrowing from their 401k was a smart move because they would just be “borrowing from themselves”.

I know people who have taken out tens of thousands of dollars out of their 401k’s, and have justified it by applying the “I’m just borrowing from myself” logic. Whether they took out the money in order to pay off debt, or simply buy some expensive new toy (or house), it seemed like a harmless thing to do. If they are just paying themselves back with interest, then it’s a “win-win” situation!

This may seem like a good idea at first, but there are a couple of things to consider before making this move ... Read the entire article.

Sponsored by The Herbs Place - Wholesale Prices Always
On Sale Now * Women * Men * Children * Essential Oils * Cleansing * Weight Loss