The Pros And Cons Of 401(k) Loans | Money Unscripted | Fidelity Investments

Описание: Maybe your car breaks down or an unexpected medical bill pops up. You need money and don't have enough in the bank. What if you borrowed the cash from your 401(k)? On this episode of Fidelity's Money Unscripted, join host Ally Donnelly for a deep dive on 401(k) loans. We look at how they work, how much you can borrow and what to consider before tapping your retirement savings.

00:00 Welcome to Money Unscripted
00:29 The pros and cons of 401(k) loans
01:02 When could a 401(k) loan be a good option?
02:26 What’s the difference between a 401(k) loan and a hardship withdrawal?
03:17 How much can I borrow?
04:03 How do I pay my loan back?
05:26 How many loans can I have?
06:29 What’s the downside of taking out a 401(k) loan?
07:42 Can I still contribute to my 401(k) after taking out a 401(k) loan?
08:10 What happens if I leave the job where I took out the loan?
09:01 How does a 401(k) loan impact my credit score?
09:57 What’s the difference between a 401(k) loan and other types of loans?
10:31 Is it a good idea to take out a 401(k) loan?
11:45 401(k) loans: A recap

Questions? Drop them below 👇 and we’ll reply right in the comments.

Thinking about a 401(k) loan?
https://www.fidelity.com/viewpoints/f...

How to save for emergencies: https://www.fidelity.com/viewpoints/p...

Watch all Money Unscripted episodes here: https://www.fidelity.com/learning-cen...

Have a comment or episode idea? Email us at [email protected].

• To see more videos, subscribe on YouTube:    / fidelity  
• Follow Fidelity on Reddit:   / fidelityinvestments  
• Follow Fidelity on Instagram:   / fidelity  
• Follow Fidelity on TikTok:   / fidelity  
• Follow Fidelity on Facebook:   / fidelityinvestments  
• Follow Fidelity on X (Twitter):   / fidelity  
• Follow Fidelity on LinkedIn:   / fidelity-investments  
• Follow Fidelity on Discord:   / discord  
• Follow Fidelity on Pinterest:   / fidelityinvestments  

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

1163344.2.0