Borrowing From 401(k) Could Be Costly MistakeWhile the law allows you to borrow up to $50,000 from your 401(k) plan, there are tax law implications.
Pay Day Loans Not In Borrower's Best InterestInterest rates on pay day loans may approach 200%.
Borrowing From Your 401(k) Is Costly And RiskyWhile the law allows you to borrow up to $50,000 from your 401(k) plan, there are tax law implications and other issues that make it a bad financial plan.
The Cost Of A 'Pay Day' LoanA payday loan usually carries a much higher interest rate if not fully repaid than a regular loan or even a credit card finance charge.
Borrowing Against Your 401K PlanWhile the law allows you to borrow up to $50,000 from your 401(k) plan, there are tax law implications.

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