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401k loan

By Robert Powell, MarketWatch  It might not be the bank of first or last resort, but it’s a bank nonetheless. About one in four investors borrow money from their 401(k), but, while such loans have some benefits compared to other sources of credit, they also can hit your retirement savings in unexpected ways. About 22% of [...]

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Before you get all excited about the possibility of taking money out of your 401K without penalty, consider these facts: For a loan to not be treated as a taxable distribution it has to be repaid within 5 years and it can’t exceed the lesser of $50,000 or the greater of 1/2 of the nonforfeitable [...]

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