138: What You Need to Know Before You Borrow From Your 401K

from Build a Better Financial Future · host Luis F. Rosa, CFP® EA

Sometimes we find ourselves in need of additional cash. Whether it's to pay off debt, buy a house, deal with an emergency or finance a project, it can be tempting to take money out of or borrow from our retirement plans. Tune in to learn more about what you should know before you borrow from your 401K. Notes: In this episode Luis speaks about the following and more: The difference between a 401k withdrawal and a 401k loan The pros and cons of borrowing from your 401k Little known tax consequences of borrowing from your 401k What happens if you have a 401k loan and you lose your job or leave your employer Alternatives to borrowing from your 401k Resources: Luis' LinkedIN Luis' Twitter Luis' IG On My Way to Wealth YouTube Channel On My Way to Wealth Website

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This episode is 24 minutes long.

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This episode was published on April 12, 2023.

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