Borrowing Early from the 401(k): advantages and disadvantages

Borrowing Early from the 401(k): advantages and disadvantages

A 401(k) account might be a substantial asset and a tempting supply of funds to fund one thing you'll need. Many 401(k) plans today enable individuals to borrow from their reports, with funds paid back in degree quantities during a period of no more than 5 years (longer if they're utilized to get a major residence).

Companies are not their workers’ financial advisors. Nevertheless, you and your employees better understand the rules and regulations around borrowing early from a retirement plan if you offer a 401(k) plan at your business, consider the following information that may help.

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