Re: Can I borrow from my 401(k)?
Most 401(k)'s let you take out loans. You can typically take out up to 50% of your balance. The good thing is you pay the interest back into your 401(k) so you are basically paying interest to yourself.
However, if you lose your job or leave the company, you have to repay the loan or you lose your other 50% of your 401(k). Probably not a great idea - borrow it at 5% and deduct it on your taxes.
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