Think hard before you take down a 401(k) loan

Think hard before you take down a 401(k) loan

3 years ago I was buying a residence and wound up taking right out a 401(k) loan. At first, 401(k) loans appear to be a pretty good notion. I could loan cash to myself as opposed to spending home loan interest up to a bank? Appears great! But right here’s the things I learned…

I knew that 401(k) loans had their disadvantage, but We felt I happened to be the candidate that is perfect one. We needed just a little extra cash for an advance payment in order to avoid PMI. Continue reading