Retired in USA

Your golden years are your best years! Make them shine!

  • Home
  • Personal Finance
  • Retirement Life
  • Saving & Spending

401k Loans: Are They REALLY Worth It?

June 1, 2023 · Personal Finance
401k Loan
Photo by Jay Yuan at Shutterstock

Have you been considering a 401k loan?

Saving for retirement has never been easier through employer-sponsored retirement plans, AKA 401k loans.

Contributions are automatically taken from your monthly paycheck, and some companies even give a matching contribution to encourage participation among their employees.

And even though this money is meant for retirement, and there are penalties for taking out the money, most companies will allow their employees to borrow from their accounts. Typically up to $50,000 can be borrowed, and it must be repaid.

When taken correctly, your retirement savings shouldn’t be affected negatively. So we decide to discuss with our readers how 401k loans work, the benefits and risks of a 401k loan, and alternatives you should consider.

Pages: 1 2 3 4 5 6 7 8

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • An ink and watercolor illustration of a happy senior couple reviewing papers together at a cozy dining table. 8 Programs Offering Free Tax Help to Seniors Regardless of Income Level
  • An artistic mixed-media paper collage ranking ten layers from tax-free light green to highly-taxed dark rust. 10 Retirement Income Types Ranked by How They're Actually Taxed
  • Watercolor illustration of a cozy mountain home and medical clinic in a peaceful valley with soft blue ridge peaks in the background. 7 Mountain Towns Balancing Beauty With Practical Retiree Needs
  • A senior couple laughs while packing a leather suitcase in a sunlit bedroom, symbolizing newfound financial freedom. 8 Signs You No Longer Need the Life Insurance Policy You've Kept for Decades
  • A warm gouache illustration of an older couple looking at a creative tax map towards a golden nest egg. 9 Deductions Retirees Commonly Miss When Filing
  • An older woman sits thoughtfully at a sunlit kitchen table with a stack of folders and a warm mug of tea. 8 Things That Happen to Benefits When a Family Member Passes
  • An older woman sits thoughtfully at a kitchen table while her family is busy in the background, showing the reality of shared living. 8 Signs Living With Family in Retirement Isn't Working
  • Editorial illustration of a person crossing a path marked 73, transitioning from a dense forest to a structured orchard. Why Age 73 Changes More Than People Expect Financially
  • An older woman smiles at her tablet over a cup of tea in a warm, sunlit kitchen. 9 Online Communities Where Retirees Are Finding New Friendships
  • A man in his late 50s sitting at his kitchen table smiling at a handwritten budget ledger in the morning sun. 7 Signs Your Retirement Date Should Move Up, Not Back

Newsletter

Get retirement tips and senior living advice delivered to your inbox.

Related Articles

A senior couple smiling while looking at a tablet in a bright, modern home.

Medicare Advantage vs. Medicare Supplement — Which Saves More in 2027

Compare Medicare Advantage and Medigap costs for 2027 to discover which plan provides the best…

Read More →
Why Two Retirees With the Same Salary Can Get Very Different Checks

Why Two Retirees With the Same Salary Can Get Very Different Checks

Discover why two retirees earning identical salaries end up with vastly different Social Security checks,…

Read More →
safe deposit box

10 Things That Belong in a Safe Deposit Box

As digital records and cloud storage are becoming more and more popular when it comes…

Read More →
scams data

Seniors, Read This: 9 Ways to Protect Personal Data Online

Ensuring you’re safe online could be overwhelming because most users have their photos, credit cards,…

Read More →
A mature couple sits together in a bright, modern living room looking at a tablet, planning their retirement strategy.

Social Security Claiming Strategies: When to Take It at 62, 67, or 70

Discover the exact financial impact of claiming Social Security at ages 62, 67, and 70,…

Read More →
A retired woman smiles warmly at her kitchen table while holding a mug next to her financial planning papers.

The SS Benefits Most Divorced Retirees Forget They’re Entitled To

Discover exactly how to claim Social Security divorced spouse benefits in 2026 to maximize your…

Read More →
Horizontal bar chart showing the monthly Social Security gap between men receiving $2,198 and women receiving $1,760, illustrating a $438 de

Women Receive Smaller Social Security Benefits Than Men ($438 Less) – and the Gap Could Grow

Learn why the $438 monthly Social Security gender gap exists, how 2032 cuts could impact…

Read More →
IRS Audit

8 IRS Audit Red Flags

You’re worried about an IRS Audit?

Read More →
financial stability in retirement

6 Finance Tips to NEVER Ask Your Kids for Money Again

Most of us strive to achieve financial stability in retirement, but this is not always…

Read More →
Retired in USA

Your golden years are your best years! Make them shine!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Contact
  • Editorial Policy
  • Advertiser Disclosure
  • FAQ
  • Subscribe
  • Unsubscribe
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • Do not sell my personal information
  • Request to Know
  • Request to Delete
  • CA Privacy Policy

Categories

  • Enjoying Retirement
  • Personal Finance
  • Saving & Spending

© 2026 Retired in USA. All rights reserved.