Ask Clark: If You Ever Simply Simply Take that loan From Your 401(k)?

Ask Clark: If You Ever Simply Simply Take that loan From Your 401(k)?

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 right thing to do?

Why Borrowing From Your 401(k) Should Be Your Last Option

It’s a relevant concern cash specialist Clark Howard gets at all times, in which he seems really strongly concerning the response:

“Almost 100% of that time period men and women have asked me personally about borrowing from their 401(k), the clear answer is ‘No!’” Clark says. “That has to function as latter and one thing you are doing whenever you’re away from all the opportunities.”

“When people do borrow from a 401(k), historically it indicates he says that they end up with not near enough money to live on in retirement. 阅读更多