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Why Borrowing from a Retirement Plan to Pay Off Debt Is a Bad Idea
Cammack Retirement Group 
Feb. 28, 2019 "Borrowing more doesn't address the issue of how the debt was acquired in the first place.... Some retirement plans require immediate repayment of loans if you change jobs, or else the entire loan is offset against your retirement plan account balance.... [B]orrowing from a retirement plan will ultimately reduce your income in retirement. The earlier in your working career you borrow, the greater the impact; due to the time-value of money." MORE >> |
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