answersLogoWhite

0

401(k) loans are different from other loans because they are borrowed from your retirement savings account. With a 401(k) loan, you are essentially borrowing money from yourself and paying it back with interest. This can have implications on your retirement savings and may come with specific rules and restrictions.

User Avatar

AnswerBot

5mo ago

What else can I help you with?

Continue Learning about Finance
Related Questions

Do car equity loans affect other loans?

In general, car equity loans should have no affect on other loans that one is receiving. Different loans are usually treated differently and from different companies.


Can you please explain how alternative student loans work?

They can make an education possible when there is no other way. This page covers the basics of student loans and points you towards additional resources.


Why do people take loans and where do they get loans?

People take out loans for several different reasons but the main thing is that they need money to pay for things. You can get loans from several places. For example, banks, credit unions and other financial institutions like that offer loans. Also, if you are in the military you have many other options. Omni Financial offers loans strictly to military personnel. You can find more about these loans and other loans from the internet.


What is the learned behavior of a society which makes it different from other societies?

It is known as Culture.


What are some benefits of career development loans?

There are several different benefits of career development loans. Some of these include: the government pays the interest on the loans until the period of study ends and the rate of interest is significantly lower than other loans.


Where can one compare different loans and rates?

One can compare various loans and their rates of interest on the Bank Rate website. There are many loans and their interest rates listed and comparisons with other financial institutions. There is a tool one can use as well to calculate loans.


Why do you need loans?

To pay of other loans.


What should an apology letter contain?

An apology letter should apologize for one's actions, explain what one has learned, explain why the situation or action will no longer occur, and other appropriate or relevant things.


Does the Cash Store offer cheap payday loans?

"THe Cash Store offers three different options for loans, they include cash advances, installment loans, and title loans. However, according to their website there is no set interest amount it depends on the market and other regulations."


What are the 4 types of financial aid available in regards to education?

There are different types of student loans available to college students for college: # Federal Subsidized Stafford Loans # Federal Unsubsidized Stafford Loans # Federal Perkins Loans # Federal PLUS Loans # Private/Alternative Student Loans Other sources of financial aid are: * Scholarships * Grants * Work-Study


Are car title loans banned in Wi?

No, Title Loans are not banned in Wisconsin but you hould know that each state has different laws. Some states like Illinois only allows title loans to $4000 while other start at $2510 (like California). Each state has different laws.


How does the interest rate on Asda loans compare to other companies?

ASDA loans have competitive interest rates and the loans allow you to repay them back overtime similar to many other loans provided by other loan companies.