Hey, I'm Shawna Compton Game. This is Millennium Money, and today we're talking about why you shouldn't use your 401k as your piggy bank.

Millennial Money, which Millennial Money with Shawna Compton game.

It will expand your brain.

All right, so maybe you owe money on your taxes.

Maybe you just want to take a really good vacation.

Maybe you want to, gosh, I don't know, pay off debt.

There are so many reasons why people borrow from their 401K. And I haven't talked about this topic a lot, but I think this is

really good, especially this time of year, because I find that a lot of people around April and May,

June, are asking me about, you know, can I borrow from my 401k? Should I borrow from my 401k? And I don't know if it's, if it is a correlation with tax

time or if it's just, you know, we're kind of rolling around this summer and we're all thinking

about, you know, all the cool things that we want to do in summer. And maybe we just don't have

the cash sitting around, you know. And so you kind of look at your 401 balance and it looks

really attractive, you know, maybe you have 20,000 or 50,000 or 100,000 or I don't know

however much money you have in your 401k, but a lot of times it can look like, wow, that's a lot

of money just sitting right there that I could use for something.

Maybe I could use to pay off my loans or my student loans or, you know, it starts to become,

it starts to just become like one of those, you know, tantalizing places.

You know, when you're, when you're on a diet and you're trying not to

eat sugar and then all you see is sugar. It feels like every meal is, there's like a slice of

chocolate cake that you're having to avoid. It can become very much that way when you have,

you know, a nice 401k balance, but you're also trying

to balance out the other things in life that are not so great. And, you know, there are lots of

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