Exactly What Your 401(k) Loan Is Actually Costing You

Exactly What Your 401(k) Loan Is Actually Costing You

Here it is. Simply sitting there. Tempting you. Taunting you. It could be therefore good to possess. You can replace with it later on. No body will have to understand.

I realize the urge. I’ve given directly into it before and regretted it. So my advice for you is it: regardless of what, don’t touch it!

Your 401(k) cost savings, that is.

The 401(k) Loan Trend

Borrowing funds from your 401(k) has gotten popular in the last few years. In reality, significantly more than 26% of 401(k) participants had that loan outstanding in 2014. And two-thirds of these individuals borrowed a 2nd time. And 25% took down a 3rd or 4th loan. That’s a habit that is bad develop! More →