Thinking About a Loan? Think Again.

Before taking a loan from your retirement plan consider this: It may seem like a fast and easy way to access your account money, but is it really a good idea? Before you decide, take a moment to consider some of the risks and potential pitfalls.

 

More About Saving for Retirement
Explore your options for meeting two important financial goals — paying down your debt and saving for retirement.
Only about one-third of Americans are saving for retirement. That adds up to a lot of people who'll struggle financially after they stop working.
Developing a timetable for retirement is a good idea at any stage of your life and career. Here are key steps to move toward a more secure financial future.
Are you considering health care as you plan for retirement? Keep in mind we're living longer and could face more health challenges during retirement. These guidelines can help you plan for future health-related expenses.
A good financial health checkup should include an examination of your debt. Want to diagnose your debt and make saving for the future easier? This topic includes a worksheet that can help. Or, watch the video.
Creating a budget can be an important tool to help you save. Get started now and learn how to create a budget.
You’re balancing a range of financial priorities. Planning for retirement should be high on the list. To help you focus, we’ve listed a few common obstacles faced by many people in your age group. You’ll also find some basic actions you can take to start — or stay — on the road to saving.
How much will you need in retirement? When you retire, you should generally plan on replacing about 80 percent or more of your pre-retirement income. Are you on track?