Pros and Cons of 401k Loans

  • March 20, 2017
  • By: Greenpath Financial Wellness
  • Category: 401K, Blog

If you are in need of cash, you may consider taking out a 401(k) loan.  With a 401k loan, you are basically lending money to yourself. You can typically take out up to 50 percent of your retirement funds or $50,000, whichever is less. Your employer sets the terms of a 401(k) loan, which must be repaid within five years...

Don’t Empty Your 401(k) to Pay off Credit Card Debt – Money Magazine

  • November 28, 2016
  • By: Greenpath Financial Wellness
  • Category: 401K, Blog

Q: I have about $9,000 in credit card debt and a little less than that in retirement savings. I plan on working for at least 30 more years. Should I use my retirement money from my 401k to pay off credit card debt, so I am financially stable enough to purchase a home? A: Pulling money out of your 401(k) or other retirement...

Showing results 1-3 out of 3