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

The Federal Retirement Thrift Investment Board will put into effect a final rule recalculating how federal employees repay ...

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 ...

Disadvantages of 401(k) loans. Potential impact on retirement savings: The biggest drawback of a 401(k) loan is that the money you take out of your 401(k) account won't grow.

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: ...

You can take a loan from your 401(k) plan if necessary, but it runs the risk of jeopardizing your long-term retirement goals, so make sure to consider your options carefully.

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.

Cons of Taking a 401(k) Loan. For a comparison, here are three common drawbacks to consider: Bad for growth. Borrowing from a 401(k) reduces retirement savings and the potential for investment growth.

As the cost of college in the U.S. continues to surge, many parents are resorting to drastic financial strategies—including ...

The interest rate you pay on a 401(k) loan can change over time. According to Debt.org, the interest rate you would pay on a 401(k) loan is usually a point or two above the lending rate used by banks.