Can You Borrow From Your Retirement Plan?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaMost qualified plans have borrowing provisions for plan participants. There is usually an interest charge as well as a payback schedule. Borrowing money fro your plan may restrict your ability to transfer funds to another plan or termination of your plan until it's paid off. Tapping your retirement plan should be the last source of money you look to.Answered on July 21, 2013+01+1 this answer
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11783 POINTSContact Meview profileLarry GilmorePROAgent Owner, Gilmore Insurance Services, Marysville, Washington StateCan you borrow from your retirement plan? Well, it will depend on your plan as it has to be written into the plan design. The question becomes why would you? When you borrow from your plan you are removing money from the earning stream of your retirement account. That money borrowed no longer earns a return until repaid.Answered on February 6, 2016+01+1 this answer 0flag this answerview more answers by Larry Gilmore
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