Скачать или смотреть 401k Loans: Beware of Double Taxation [Investors BEWARE]

In today’s video we’re discussing what you need to know BEFORE you take out a 401(k) loan.

➡️ Must watch video: PROTECT Your 401(k) - 5 Things You NEED to Know to Protect Your Retirement    • PROTECT Your 401(k) in a Volatile Market  

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401k loans are attractive because you don’t need to have good credit, you get low interest rates, and you pay interest to yourself instead of a creditor. Basically, you’re your own bank.

Because of this, people often take out a 401k loan to pay for a down payment on a house, fund a new business, or pay down high interest.

But, just because something looks good on paper, doesn’t mean it’s the best choice.

A 401(k) loan can impact the quality of your retirement, have negative tax consequences, and cost you money and opportunity for more in retirement – which is why it’s so critical to understand what you’re getting into before you take out a loan from your 401k.