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Here’s Six Things You Need to Know Before Taking a Loan On Your 401(K) Retirement Plan

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Findings by investment firm Vanguard , indicate that the average 401(k) balance was roughly $141,542 in 2021, which represented a 10 percent increase from 2020. Depending on your plan, you may be scheduled for monthly or quarterly payment deductions. Why take out a 401(k) loan?