How a 401k Loan Works

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I get a lot of questions about borrowing from one’s 401k. So, we’ll dive into that here today. When it makes sense to do it. Why you should do it. The costs. The risks. And finally, IF you should do it.

So join me as we go over:

The good.
The bad.
The ugly.


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2 Responses

  1. C B says:

    I see a lot of parents raiding their 401k’s to help pay for their kids college. I live in an upper middle class area in CA and the normal cycle I see is people trying to “keep up with the Jonses”. This involves spending lots of their income on their home in their thirties, cars, vacations, and youth sports in their forties, and then college for their kids in their fifties. By the time they are in their mid or late fifties they are running out of time to save for their retirement. Maybe an idea for future podcasts or clips would be for you to map out “Do this in your twenties, do this in your thirties, etc). I know I would be a lot further ahead if I knew then what I know now.

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