Borrowing Money From A 401k, TSA Or Other Defined Contribution Retirement Plan
Borrowing Compared To A Hardship Withdrawal
Next » « Previous4/5
If you can meet one of the requirements for a Hardship Withdrawal, it is advisable to consider that option before borrowing. The money you take out under the hardship provisions does not have to paid back so you'll avoid interest payments. Note that under many plans, you cannot a take hardship distribution unless you can prove you have tried all other ways to get the funds, including taking a loan from your plan.
To Learn More
Get Your Personal Guide
Please share how this information is useful to you. 0 Comments
Post a Comment Have something to add to this topic? Contact Us.