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Think Before You Take a 401-K Loan

by Deirdre Blake posted Sep 4 2013 6:43AM
Even if you are vested in your company's 401-K, you might think long and hard before taking a loan against it.
In a qualifying hardship, it could seem like easy money, but can be expensive. If you leave your job, you'll be chargeda tax penalty if you're under 59 and a half. You could also be charged taxes and have to repay the loan amount within 30 to 90 days of leaving.
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09/04/2013 6:43AM
Think Before You Take a 401-K Loan
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