401(k) Loans - Are You Really Paying Yourself Interest?
27th January 2021 • The 2-Minute Drill • John Geffert
When someone is looking at lending options, occasionally their 401(k) is one of them. Why wouldn't you take a loan from your 401(k); you're technically paying yourself interest, right? Unfortunately, it's not that straightforward.
Disclaimer: The above information does not encompass all advantages or disadvantages of taking a 401(K) loan and is being provided for information purposes only. Prior to making an investment decision, please consult with your financial advisor about your individual situation. Raymond James and its advisors do not offer tax advice. You should discuss any tax matters with the appropriate professional.