BORROWING AGAINST RETIREMENT

You can borrow as much as 50% of your retirement, up to $50,000, per year. Generally, this would be a 401(k), 403(b) or similar account. You will have to pay this money back, plus interest, to your retire account as this is a loan. Remember you will also lose market gains on this money while it is in your hands, but the interest rates are generally lower than a personal loan. The length of the loan is generally five years, but there should be no pre-payment penalties. It is a good idea to talk with a financial advisor if you have one.