How To Borrow From A Retirement Plan?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Retirement monies are meant for your golden years. borrowing against your future is altering the lifestyle in your senior years. That said, there are emergencies that may be beyond your cash reserves and your retirement monies may be the only resource available. Most plans charge interest and require a repayment schedule. All loans must be repaid before any transfer to another plan. If your terminated, your loans must be repaid or the the plan administrator may issue a 1099.

   Answered on July 26, 2013

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