Ask a Fool: How much can I borrow from my retirement accounts?

Question: I have some high-interest credit card debt and was considering a loan from my retirement account to pay it off and save money on interest. How much can I borrow, and is it a good idea? Answer: If your plan administrator allows it, you can borrow from your 401(k). The maximum you're allowed to borrow is $50,000, or half of your account's value, whichever is less, but if your account is worth less than $10,000, you may be allowed to borrow the entire amount. Continue reading:.



https://www.usatoday.com/story/money/personalfinance/retirement/2018/04/12/ask-a-fool-how-much-can-i-borrow-from-my-retirement-accounts/32995119/