When a 401(k) loan is borrowed in the right way, it should not have a negative impact on your retirement savings. But be aware that not all 401(k) providers will approve a 401(k) loan.

Thinking about raiding your 401(k) for quick cash? Learn why a personal loan could be a smarter, lower-cost move to protect ...

When a 401(k) loan makes more sense than a HELOC "In my opinion, the 401(k) loan is better in that you are borrowing from yourself and not creating another real estate backed loan," says Mark ...

Confused about borrowing options? Compare a 401(k) loan vs. personal loan to find out which is better for your finances.

Borrowing from your 401(k) can help cover a large expense, but it has long-term risks to your retirement savings. Compare alternatives like credit cards and personal loans.

Such 401(k) loan defaults hit people’s wallets twice. They now have to pay income taxes and a 10% penalty on their outstanding loans. And, they have less money for retirement.

But 401(k) loans should be used sparingly. While money in a 401(k) account is intended for retirement, you can take out a portion of your balance as a loan. BLUEPRINT ...

Need A 401(k) Loan? It Just Got Less Dangerous. ByAshlea Ebeling, Former Staff. Jan 16, 2018, 08:45am EST Sep 12, 2018, 12:46pm EDT. Share. Save. This article is more than 7 years old.

• Most 401(k) loans come with interest rates cheaper than credit cards charge. • You pay interest on the loan to yourself, not to a bank or other lender. Disadvantages: ...

401(k) loans require little in the way of administration. There is no loan application, no credit report, no personal questions, and no justification. For many people this is the easiest and ...

401(k) loans vs. personal loans. 24-month personal loans had an average interest rate of 12.49% in February 2024, according to the Federal Reserve.That may be higher than the interest rate offered ...

401(k) Loans: Personal Loans: Maximum loan amount: $50,000, or 50% of your account balance, whichever is less: $100,000, but varies depending on the lender and your creditworthiness: ...