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Naturally, as millennials are “growing up,” they begin to look for homes and according to a recent CNBC article, 1 in 3 millennial homeowners get the money to buy homes from taking a loan against their 401(k) accounts. This is not a positive trend! Most of the time we think taking a loan against your 401(k) is a bad idea. In this Money Hacks video, I explain the different pain points when considering to take a 401(k) loan and how important it is to leave your 401(k) savings for retirement.
If you have a money question you'd like answered, don't forget to email us! This series is made from calls and questions we get from employees, investors, savers, and people just planning for their future, so if you have a question, let us know!