# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
401K Loan

401(k) Loan means taking money from your 401(k) account with the promise that you’ll pay it back. You also must pay yourself interest, which is taxed twice. Usually, you have five years to repay your loan, though plans can differ. Taking out a 401(k) loan can greatly cut into your retirement savings.

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