Taking 401(k) Loans–11 Pros and Cons You Should Know
Money Girl
Macmillan Holdings, LLC
4.6 • 1.8K Ratings
🗓️ 19 April 2023
⏱️ 20 minutes
🧾️ Download transcript
Summary
Laura answers a listener’s question about 401(k) loans and using them to pay off credit card debt. She covers 11 pros and cons of taking a loan from a workplace retirement plan, such as a 401(k) or 403(b).
Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.
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Transcript
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| 0:00.0 | Hey friends, thanks for joining me on another weekly money girl episode. |
| 0:09.5 | My name is Laura Adams. |
| 0:10.5 | I'm an award-winning personal finance author and creator of online money classes. |
| 0:15.4 | My debt course is a bestseller called Get Out of Debt Fast, a proven plan for debt-free |
| 0:20.0 | personal finances. |
| 0:21.8 | And if you're ready to build your credit scores, don't miss my credit course. |
| 0:25.7 | Called Build Better Credit, the ultimate credit score repair guide. |
| 0:29.4 | Find them on my website at LauraDatams.com. |
| 0:33.7 | Since 2008, I've been bringing you personal finance and small business tips that boost |
| 0:37.8 | your financial wisdom, wellness, and security. |
| 0:41.0 | I cover a range of topics here. |
| 0:43.0 | And I also interview subject matter experts and interesting people from time to time. |
| 0:48.1 | And I'd love to hear if you're enjoying the show or if it's helped you improve some |
| 0:51.6 | aspect of your financial life. |
| 0:53.6 | You can do that by leaving a review. |
| 0:55.4 | We always love your reviews. |
| 0:56.7 | We read all of them. |
| 0:58.2 | You can also call 302-364-0308 or you can visit LauraDatams.com. |
| 1:06.3 | My site has an email contact page and, of course, more information about my work, books, |
| 1:12.2 | and debt-incredited courses. |
| 1:14.5 | Today's topic is courtesy of a listener named Nileema, who says, hello, Laura. |
| 1:21.3 | I enjoy the Money Girl podcast. |
... |
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