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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]Another thing to consider, your original 401(k) contribution goes in pre-tax but any loan repayments are made after tax and then taxed again when you take the money out at retirement. So essentially that pot of money that constitutes the loan is taxed twice. That coupled with the fact that you are earning nothing while that money is not invested should make 401(k) loans a last resort.[/quote]
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