5 Reasons You Shouldn't Rely on Your 401(k) Loan to Pay Off Your Debt

5 Reasons You Shouldn't Rely on Your 401(k) Loan to Pay Off Your Debt

You may have heard that taking out a loan from your 401(k) can be a great way to pay off debt. While this can be true under certain circumstances, it is important to understand the risks involved in taking out a 401(k) loan and why it may not be the best option for everyone. Before you make the decision to borrow from your 401(k), here are five reasons why you should think twice.