401K Loans: A Double-Edged Sword

Financial stress costs U.S. employers $183 billion annually due to lost productivity. A popular solution is borrowing from 401(k) retirement accounts, but its not without risks. Losing potential investment growth, quick repayment requirements, and tax penalties are significant downsides. Exploring other options like personal loans or emergency savings is recommended to avoid jeopardizing long-term financial security.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.