
The Rule of 55, Explained
Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.
00:00
How to Pay Back Your 401k Loan
When you are paying your self interest, so you've got to take you borrowed money from your 401k, your 401k does not grow. If the stock market triples, your money does not trim. And then the final catch is you can only borrow up to half of its value. So if you have $10,000 in your 401K, you could borrow five. Okay. You did this. I did do this and successfully. Yeah. The whole thing is you could pay back the loan quicker. Like eggs on your face and just like pause it all back in. That works too. Right? It's through your check, it's through your paycheck. Got it.
Transcript
Play full episode