Pros and Cons of a 401k Loan

2 years ago
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401k loans are attractive because you don’t need to have good credit, you get low interest rates, and you pay interest to yourself instead of a creditor. Basically, you’re your own bank.

Because of this, people often take out a 401k loan to pay for a down payment on a house, fund a new business, or pay down high interest.

But, just because something looks good on paper, doesn’t mean it’s the best choice.

401k Related Videos

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