14. Borrow from your 401k
Borrowing from your own your retirement plan is significantly diffent from creating a withdrawal. You withdraw $5,000, your balance drops to $45,000 if you have $50,000 in your plan and. One other $5,000 switches into your pocket, you pay fees about it, and also you donвЂ™t have to pay it straight back.
Once you sign up for that loan, by comparison, the total amount in your plan remains at $50,000.