When You SHOULD Borrow Against Your 401k (401k Loans Explained!)

When, if ever, should you borrow against your 401k? Is a 401k loan a great way to plan or a horrible idea?

Apr 18, 2024

Transcript

401(k) loans offer participants the ability to borrow against their investment and pay back that loan over time. BUT, investors should be wary about borrowing against themselves and their future. In this podcast, I will discuss the process of borrowing against a 401k, how it may affect your long-term plans, and when, if ever, this strategy is a good idea.

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Financial Discipline to Freedom

I’m Jenny Logan, Certified Financial Planner™, rural living evangelist, aspiring homesteader, and business owner. This podcast focuses on the journey to financial freedom, self-sufficiency, and a life of purpose and meaning. We talk big picture about the purpose of financial freedom, but also share some straightforward strategies that, with a little discipline, anyone can implement to work towards financial success.

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