close
    want to take out a loan on my 401k plan

    0  Views: 371 Answers: 2 Posted: 12 years ago

    2 Answers

    Talk to your bank or holder of the plan as they have your money and can tell you how and for what purpose you can borrow from it.

    Yes, like sawali recommended, talk to your financial planner or broker before you take so much as a penny.  The early withdrawal penalties can be astronomical.  There are a couple of reasons you can draw from them without penalty....but be advised, the IRS is breathing right down your neck if you tap those funds.  



    Top contributors in Personal Finance category

     
    Colleen
    Answers: 222 / Questions: 1
    Karma: 3960
     
    ROMOS
    Answers: 71 / Questions: 0
    Karma: 3840
     
    Benthere
    Answers: 3 / Questions: 0
    Karma: 3345
     
    country bumpkin
    Answers: 43 / Questions: 0
    Karma: 3030
    > Top contributors chart

    Unanswered Questions

    AE888
    Answers: 0 Views: 3 Rating: 0
    AE888
    Answers: 0 Views: 2 Rating: 0
    AE888
    Answers: 0 Views: 2 Rating: 0
    AE888
    Answers: 0 Views: 2 Rating: 0
    Sunwin - Game Tài Xỉu Sunwin
    Answers: 0 Views: 7 Rating: 0
    bk8family
    Answers: 0 Views: 6 Rating: 0
    789WIN
    Answers: 0 Views: 7 Rating: 0
    789WIN
    Answers: 0 Views: 6 Rating: 0
    > More questions...
    453162
    questions
    720049
    answers
    758027
    users