By Cindy Sandomenico
Borrowing money from your 401(k) account can be tempting. You know the money is there, and it’s yours, so why not use it?
Before you pull the trigger, however, consider the limitations and consequences. Here are some important points to keep in mind.
Know the rules
Generally, you can borrow from a 401(k) for any reason, such as paying educational expenses or buying a home for the first time -- although employers are not required to offer a loan option within the 401(k) plan.... read more.