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Many online resources for financial advice point out that tapping into your 401K plan prematurely should be a last resort option. It might first seem there are many benefits of a 401K loan. After all, you're "borrowing money from yourself", however, once you delve deeper, the costs can far outweigh the benefits. Explore this tab to better understand why borrowing from your retirement fund may be a bad idea. Of course before you follow this or any advice found on the web, you should consult a financial professional.