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Reply to "Explain to me why it's a bad idea to borrow against your 401k?"
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[quote=Anonymous]You know what sounds so logical to financial gurus? Don't accumulate credit card debt. Your 401k should be held almost sacred -- to be tapped in the most dire of circumstances. Can you just try to map out a severe plan to pay off that debt (or to pay yourself back quickly if you dwindle the 401k)? 401k is meant for retirement or perhaps a true unexpected emergency. Not because you had to have the rug at Bloomies tent sale. [/quote]
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