The dangers of borrowing against your 401(k)

  • It's too easy to get your hands on the money

    iStockphoto

    If your employer offers 401(k) loans, you'll probably find it a snap to get your paws on the dough. In fact, all you have to do is fill out a few forms and you'll probably have your money in a matter of days. In my experience, that's dangerous. Borrowing money is a serious business. The last thing you want to do is borrow money needlessly. And if it's easy to get the loan, you just might go for it without thinking it through completely.

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