Peter Mallouk and his guest, Dan Donegan, review some potential pitfalls of retirement plan loans. Peter and Dan look at why you should avoid taking a plan loan; they discuss factors such as opportunity cost, the lack of loan flexibility, and what happens to your loan if you leave your company. Listen in to learn more about why you should think twice about taking a retirement plan loan.
The 411 on 401(k), hosted by Creative Planning President Peter Mallouk and the Creative Planning 401(k) advisory team, is an informed discussion aimed at answering the many questions participants may have about their retirement accounts. Our mission is to educate and inspire people to make better financial choices through knowledge, tools and strategies that ensure a more prosperous future.
Important Creative Planning legal disclosure: http://bit.ly/2DC250b