401(k) Loan Costs: Double Tax, Lost Growth, Job Loss Risk

Thinking about borrowing from your own 401(k)? This episode covers the four costs most people miss, plus a scam tax twist and the Zelle trap.

In This Episode

✓ A pig butchering victim who lost $600,000, then got a $225,000 IRS bill

✓ The friend who pays for everything, and the red flags to watch for

✓ The 401(k) loan: four costs of paying yourself back

✓ A $4,000 hybrid premium and five drawbacks dealers skip

✓ The Zelle "friends and family" trap

✓ Check in on this week's Money Move: list your fixed and variable expenses

Resources

Win Ralph's Money giveaway: https://www.becomingfinanciallyconfident.com/giveaway

Book a call with Ralph: https://www.ralphestepjr.com/schedule

Year-end review with Ralph: https://www.becomingfinanciallyconfident.com/yearend