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Your email address will not be published.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

  • Senior couple sitting at a wooden kitchen table reviewing paper receipts, bank statements, and store reward cards. 9 Store Membership Tiers That Are Rarely Worth the Upgrade
  • Senior couple sitting at a wooden table reviewing Social Security and Medicare documents beside a budget notepad. 10 Things Nobody Explains About Medicare's Late Enrollment Penalty
  • An older man sits at a dining table with a laptop, ledger, and banking statements from multiple financial institutions. 8 Reasons Retirees Are Splitting Their Savings Across More Banks
  • A senior man sits at a wooden table reviewing financial papers with a calculator, eyeglasses, and coffee mug nearby. 9 Things That Happen to Debt When You Retire With It
  • A woman reviews Medicare Advantage comparison guides and plan documents at a wooden table with a coffee cup. 10 Things Nobody Explains About Medicare Advantage Switching
  • Mature couple reviewing retirement portfolio charts and taking notes at a sunlit wooden kitchen table with a laptop. 8 Reasons Retirees Are Rethinking the 4% Withdrawal Rule
  • An older woman in an apron waters potted plants on a sunny front porch with a small dog lying beside her. 12 States Where a Modest Pension Still Goes a Long Way
  • Older couple relaxing in wooden chairs on a porch with coffee mugs and a newspaper on a rustic wooden table. 12 Places Where Property Taxes Are Basically Nonexistent for Retirees
  • An older couple holding mugs on a wooden balcony overlooking a misty valley town and distant mountains at sunrise. 11 Places Retirees Keep Naming as Their Biggest Surprise Favorite
  • Mature woman sitting at a sunlit wooden table reviewing paperwork, with eyeglasses, a pen, and a steaming mug nearby. 15 Financial Challenges Widowed Spouses Often Don't See Coming

Newsletter

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

Related Articles

Social Security changes coming in 2024

6 Social Security Changes Coming Next Year

Are there any Social Security changes coming this year? Yes, there are, and we are…

Read More →
working in retirement, tax change

The ONLY Unexpected Tax Change Seniors Will Face in 2025

A senior man thoughtfully reviews financial paperwork in his library, preparing for the significant tax…

Read More →
IRS Audit

8 IRS Audit Red Flags

You’re worried about an IRS Audit?

Read More →
401(k), security check holiday

Social Security Check: 8 Ways to Live a Comfortable Life Off It Alone

Have you ever wondered if you can live comfortably off just a social security check…

Read More →
Tax Refund

New Court Ruling Could Mean IRS Refunds for Pandemic Tax Penalties (2020–2023)

A recent court decision may open the door for certain taxpayers to recover IRS penalties…

Read More →
social security changes

5 Social Security Changes Coming In 2026

Will these Social Security changes impact you in 2026? As you already know, this pattern…

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 →
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 →
part-time gig

10 Great Part-Time Gigs For Retirees (Available Now!)

Are You Looking For A Part-Time Gig? Your retirement should be the time when you…

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.