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In a financial pinch? Lend yourself 401(k) money … carefully

by on
in Small Business Tax

Do you need cash in a hurry to help pay for a child’s college, a medical emergency or some unforeseen circumstance? You can borrow the money from your 401(k) plan if your employer allows it. But remember that your 401(k) plan is meant to be used for retirement, so use this tax strategy with discretion. Borrow from the plan only after you’ve exhausted other possibilities.

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