You might be tempted to borrow from your 401(k) if you are facing a large amount of debt or a big unexpected expense and have a sizeable amount of money built up in your retirement account at work,. It is that the thing that is right do?
Why Borrowing From Your Own 401(k) Should Be Your Last Option
It’s a relevant concern cash specialist Clark Howard gets all the time, in which he feels extremely highly in regards to the response:
“Almost 100% of that time folks have expected me personally about borrowing from their 401(k), the clear answer is ‘No!’” Clark says. “That has to end up being the option that is last one thing you are doing whenever you’re away from all the opportunities.”