Today, I’m addressing a critical question: is it worth using a 401(k) loan or withdrawal to consolidate debt? While it’s not ideal to dip into your retirement funds, sometimes it may be the lesser of two evils. In extreme situations where debt is overwhelming, a 401(k) loan or withdrawal might be preferable to bankruptcy. Always consider your entire financial picture and long-term goals before making a decision. Follow along for more money tips!
Hey, I’m Gaby Rincón!
I teach you how to manage your money stress-free and build a financial future that fits your lifestyle.
I’m a passionate personal finance coach with a ten-year career in education. Seeing inequities in the classroom inspired me to dive into personal finance and address the education gaps within the first-generation BIPOC community.
I use my teaching and financial expertise to offer inclusive, empowering coaching. I create a safe, judgment-free space for clients to share financial concerns and dreams.
#shorts #youtubeshorts
Should You Use a 401(k) Loan or Withdrawal to Consolidate Debt? #debtconsolidation #shorts
money coach, 401(k) loan, debt consolidation, BIPOC community, financial education, money tips, retirement planning, financial empowerment, debt management, money stress free, personal finance, bankruptcy alternatives
Related Posts:
