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Retirement Plan Loans: Think Carefully Before You Borrow
MassMutual 
Mar. 18, 2020 "Although borrowing your own money sounds like a good deal, it may not be as cheap as you think. Here are some things to think about before taking a loan from your retirement plan account. [1] Fees ... [2] Opportunity cost ... [3] Pay tax twice ... [4] Reduced savings rates ... [5] Potential taxes and penalties ... [6] Loan defaults happen." MORE >> |
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