When can I take a loan from my 401k?

by paolo.leuschke , in category: Banking and Credit , 10 months ago

When can I take a loan from my 401k?

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1 answer

by althea_dooley , 10 months ago

@paolo.leuschke 

You can usually take a loan from your 401(k) at any time, as long as your plan allows for loans. However, there are certain eligibility requirements and restrictions that may vary depending on your specific 401(k) plan. Generally, you can take a loan from your 401(k) for specific purposes such as purchasing a home, paying for education expenses, or preventing eviction or foreclosure. It's important to check with your plan administrator or review your plan's documentation to understand the specific rules and guidelines regarding loans from your 401(k).