Many 401(k) plans allow users to borrow secured on their retirement cost savings. It’s a fairly low-interest loan choice that many people used to combine personal credit card debt — meaning, using a far more favorable loan to repay a few high-interest charge card balances. But NerdWallet cautions against going for a 401(k) loan except as a resort that is last.

What’s a k that is 401( loan? The real price of a k that is 401( loan

Company guidelines can vary, but k that is 401( plans typically allow users to borrow as much as half their retirement balance for no more than 5 years. [Read more…]