401(k) loans have a max of $50,000 or 50% of your vested balance, whichever is less. Repaying a 401(k) loan within 5 years is crucial to avoid tax consequences. Not all 401(k) plans allow loans ...

However, raiding our retirement account is not the only option. Here are some others. Putting extra money toward the loan principal each month shortens the time it takes to pay your mortgage off ...

The benefit of a 401(k) loan is potentially having an easier time accessing your money and paying interest to yourself instead of a bank. The problem is that if you don’t repay your loan ...

personal loans or home equity lines of credit. Once a homeowner's working years are over, existing mortgage debt can eat into retirement income. There are, however, instances when having a ...

When reviewing your retirement finances ... Pros of Reverse Mortgages No monthly mortgage payments. Loan repayment isn't required until the borrower sells, moves out or dies.

answers a Retirement Daily reader's question about whether 401(k) loan repayments are double-taxed? My wife and I took out a 401(k) loan to assist us with the cost of renovating our newly acquired ...