Using a 401(k) loan to pay off credit cards
A 401(k) loan can cut card interest sharply, but it turns unsecured debt into retirement risk. The numbers on $10,000, and the two ways it goes wrong.
Guides
The real cost of borrowing from your 401(k).
Is 401(k) loan interest taxed twice?
Only the interest is, and it matters less than people say. The math against not borrowing, against a personal loan, and why lost growth is the bigger cost.
Should you stop contributing while you repay a 401(k) loan?
Pausing contributions to afford a 401(k) loan payment often costs more than the loan. The math on a lost employer match, with a worked example.
Price the alternative before you borrow
A personal loan leaves your retirement money invested. Check a rate with a lender and put it next to your 401(k) loan.