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Financial Literacy - Smart borrowing Click Here
TOOLS AND RESOURCES
Smart borrowing tool kit
Use these calculators, work sheets and resources to plot a savvy strategy before you borrow money.
Smart borrowing

Should I borrow from my 401(k) plan?

Determine how much money you will lose by entering the information below.

  Should I borrow from my 401(k) plan?

How much do you want to borrow from your 401(k) plan? $
What rate of return do you expect to earn from your 401(k) investments? %
What interest rate will you pay on your loan? %
How long will you take to pay back the loan? years
How many years will it be until you retire? years
If loan is repaid on time you will lose: $
If loan is not repaid, you face additional taxes and a 10 percent penalty. Your loss rises to: $





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