What are the requirements of a 401k loan? How does a 401k loan work? And what are the pros and cons of a 401k loan?
A 401k loan should be the last resort after you have exhausted all other resources for money in case of an emergency or unexpected expense.
While a 401k loan is quick, easy, and a low interest rate there are some major drawbacks and risks associated with a 401k loan. So carefully look at all your options before considering a 401k loan.
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LEARN MORE ABOUT: 401k Plans
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