2646: 401(k) Loans: What Are Their Pros and Cons? by Amanda of Women Who Money on Financial Planning

Optimal Finance Daily - Financial Independence & Money Advice - Un podcast de Optimal Living Daily | Diania Merriam

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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2646: Amanda from WomenWhoMoney.com explores the nuanced landscape of 401(k) loans, offering a comprehensive guide on their benefits and drawbacks. She delves into the mechanics of borrowing against your 401(k), the implications of such decisions, and provides thoughtful insights on why this option, while tempting, should be approached with caution. This episode promises a deeper understanding of 401(k) loans, empowering listeners with the knowledge to make informed financial decisions. Read along with the original article(s) here: https://womenwhomoney.com/401k-loan-pros-cons/ Quotes to ponder: "Borrowing from your 401(k) is essentially borrowing money from yourself, but there’s much more to it than that." "The interest rate for a 401(k) loan is commonly 1-2% more than the prime rate." "Most people don’t have pensions anymore, so many will rely on the money saved in their 401(k) to get them by in retirement." Learn more about your ad choices. Visit megaphone.fm/adchoices

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