GettyThere are two schools of thought when it comes to borrowing money from your 401k plan. It’s more critical you understand the practical implications of taking out a loan from your 401k plan. Also, you don’t oversee your 401k plan money, your company does. In most cases, the 401k plan will define what that interest rate is. Mind you, this latter example is quite rare, especially in the low interest rate environment in which we currently find ourselves.

Source: Forbes June 27, 2019 15:22 UTC