4 alternatives to borrowing from your retirement fund

Because withdrawing or borrowing from your 401(k) comes with some  drawbacks, here’s a look at some other ways to access cash for a large  or emergency expense.

Establishing and maintaining an emergency fund can  provide a financial safety net for unexpected expenses.

Emergency fund

Medium Brush Stroke

Home equity loans or lines of credit

If you own a home, leveraging the equity through a home equity loan or line of credit can provide a cost-effective method of accessing extra cash.

Negotiating with creditors

In cases of financial hardship, it can be worth reaching out to your creditors and explaining your situation.

Medium Brush Stroke

Personal loans are available from online lenders, local banks and credit unions and can be used for virtually any purpose.

Personal Loans


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