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Most of us have probably been there: An unexpected cost arises or our budgeting strategy doesn't quite work out as planned and we need some extra cash. Fast. For some people, their first thought is: "What about that money I've been saving in my 401(k)?"
Many Americans will consider a 401(k) loan as an option, but there are important issues to be aware of before making this choice. In this MoneyNav Academy video financial advisor, Daniel Haverkos discusses the dark side of taking a 401(k) loan.
In this MoneyNav Academy video financial advisor, Daniel Haverkos discusses the dark side of taking a 401(k) loan. He walks you through the basic pros and cons of taking this type of loan to help you make the best decision for your financial life.
Watch it here: