Ways to get a loan that is 401k

Ways to get a loan that is 401k

There is a large disadvantage to taking right out a 401k loan that no one covers: fees. While you have a loan; losing out on the growth your loan money would have enjoyed if it had stayed in the 401k account; and if you lose your job (quit, change jobs, get fired) while you have a loan outstanding, the remaining loan balance is typically due within 60 days if you read an article about the pros and cons of 401k loans, the usual list of cons includes: not being able to make contributions to the plan. Leer más