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What to know about taking out a 401(k) loan

Name: What to know about taking out a 401(k) loan
Uploaded: 2024-03-13T15:43:00-0400
Duration: 3 min 3 s
Description: The Vanguard Group said new data showed around 13% of its customers took out a loan on their 401(k) retirement funds in 2023. Elizabeth O'Brien, senior personal finance reporter at Barrons, joins CBS News to discuss the pros and cons of tapping into your 401(k).

The Vanguard Group said new data showed around 13% of its customers took out a loan on their 401(k) retirement funds in 2023. Elizabeth O'Brien, senior personal finance reporter at Barrons, joins CBS News to discuss the pros and cons of tapping into your 401(k).