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Advisers Warning Clients On 401(k) Loans
The Wall Street Journal; subscription may be required Link to more items from this source
Aug. 13, 2013

"The fact that account holders who take out 401(k) loans are paying themselves back with interest may be blinding them to the far-reaching drawbacks ... [C]ontribution rates tend to be lower as the loans -- which often range from 5 years to 20 years -- are paid back. Worse yet, those who lose their jobs are generally given just 60 to 90 days to repay the loans. If they default, those younger than 59-1/2 years old face a 10% early withdrawal penalty in addition to income taxes."

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