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Kiplinger
Kiplinger
Business
Kathryn Pomroy

The 401(k) Loan Dilemma: Is It Ever a Good Idea?

(Image credit: Getty Images)

It's not uncommon to find yourself in a financial crunch at any given time and needing a way to dig yourself out. Thankfully, you have options, such as borrowing from your emergency fund, a savings account, or taking out a personal loan.

You might also consider borrowing from your 401(k). While a 401(k) loan is often quick and typically cheaper than some other types of credit, it could also end up jeopardizing your retirement.

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