The pros and cons of 401(k) loans

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Abstract: In today’s tough economy, many people are struggling to meet their day-to-day expenses. At the same time, the credit crunch has made it harder to obtain traditional loans. This article looks at one enticing alternative, which is to borrow against your 401(k) account, if your plan permits it. This can be a risky strategy, though, so it’s generally best considered only as a last resort