Just keep in mind that if you leave your employer, the 401k loan may have to be repaid within 90 days or it will be treated as a distribution.Speaking of 401k....any of you ever taken a loan out against yours?
On paper I'm not seeing much downside... big chunk to pay for the garage build I wanna do, pay back with interest rate (9.5% or lower) and even the interest is going back into my 401k...
My only gripe is the max period to pay it back appears to be 54 months (why 54 I don't know...I'm curious if it's going by calendar year though).
But it just takes the payment right out of my regular check so not like something I'd even have to setup or remember to do.
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