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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]We took a loan against our Thrift Savings Account. Isn't that pretty much the same thing? Best decision we ever made. We had to pay interest, but we were paying it to ourselves. We used it to pay off a higher interest credit card loan. We set up the re-payment as an allotment out of my DH's paycheck. We don't miss the money because we never see it. I could see BIG problems if you were using it to get further into debt. [/quote]
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