3 alternatives to borrowing from your 401k

3 alternatives to borrowing from your 401k

Borrowing from your 401k should remain a last-case situation due to numerous associated with the dangers included. Rather, you can find three alternatives that are IWT-approved should seek out as opposed to borrowing from your own 401k.

1. Plunge into your crisis investment

A crisis investment is money saved for shock — and that is pressing (for example., an urgent situation).

An excellent guideline is having sufficient money for three to half a year of bills into the investment to hedge against economic emergencies. Continue reading « 3 alternatives to borrowing from your 401k »