In certain instances, you can take out a loan from your 401(k) and repay it over five years. Evaluate your options and try to find other ways to pay off debt, which would allow your funds to grow ...

Text Callout : Key Takeaways - Should You Use Your 401(k) to Pay Off Debt? If you’re struggling with debt, you may be tempted to use your retirement funds to help pay off outstanding balances.

“Taking out money from your 401(k) to pay off your student loans can be tempting, especially when you’re in the mindset that you need to pay off this debt now and worry about retirement later ...