4 reasons you must never, ever just take a 401(k) loan

If you have a pressing financial concern and money in to your 401(k), perhaps you are lured to just take the money down if you take a 401(k) loan. Most likely, the income is simply sitting here, you would be repaying interest to your self you may have plenty of time to put the money back before retirement if you took out the cash, and.

You should resist the urge and leave your 401(k) cash right where it is while it can theoretically seem like a smart financial move to use that money to pay off high-interest debt, put down a down payment on a house, or fulfill another immediate need.

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