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Raiding the Retirement Stash
The Washington Post; subscription may be required
July 21, 2008
Excerpt: The increase in 401(k) loans is so high because this money is so easy to borrow. If your plan allows such a loan, you can borrow $50,000 or one-half of the vested balance from your retirement account, whichever is lower. The loan has to be repaid in five years or less, except for loans that have been taken out for the first-time purchase of a home. That loan can be repaid over a period of up to 15 years.
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