Archive for January, 2009

Using your 401(k) before you retire

Wednesday, January 21st, 2009

Summary

The bottomline is a 401(k) loan to yourself makes sense in the following situation:

  • You need to take out a loan anyway.
  • Your only other options have an interest rate of over 3%
  • The amount you can take is sufficient to cover the loan
  • You can pay back the loan within the time limit

(more…)