Key Points The benefit of a 401(k) loan is potentially having an easier time accessing your money and paying interest to ...

You can take a loan from your 401(k) plan if necessary, but it runs the risk of jeopardizing your long-term retirement goals, ...

which is usually based on the current prime rate. The bad news is that you will pay interest on your 401(k) loan with after-tax dollars. When you take money out as a retiree, you are still taxed ...

which can combine multiple debts with high interest rates into one loan with a lower rate. If possible, try reworking your current budget. Perhaps you can pause contributions to the retirement ...

a 401(k) loan allows for quick access to money during urgent situations. Potential Lower Interest Rates Compared to Other Types of Loans 401(k) loans often have lower interest rates compared to ...