When it comes to your 401(k) plan, you want to keep your hands off for as long as possible. The longer those funds can compound and grow, the better.
In this episode, Malcolm Ethridge speaks about his recent blog that left a few people uneasy about the message he was getting across. Malcolm discusses why he believes that you should not be borrowing from your 401(k) and what could happen if you do.
In this episode, we discuss:
- The unintended consequences of 401(k) plan loans and early distributions
- The Cares Act and its impact on 401(k) plan distributions
- The growing trends around 401(k) loans and debt consolidation
- Alternative ideas to access capital instead of tapping into your 401(k)
- And more!
Tune in to discover how tapping into your 401(k) plan could hurt you in the long run and what you should be doing instead!