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EBU032-Avoiding the Pitfalls of 401(k) Loans

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Manage episode 493158721 series 2319807
Content provided by Joyce Timmons. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Joyce Timmons or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Taking a loan from your 401(k) might seem like a simple fix when cash is tight—but it could cost you more than you think. In this episode, we welcome back Ryanne Harmann, QKC, QKA, from Acropolis Investment Management to explore the hidden risks with borrowing from your retirement savings. From double taxation and surprise tax bills to the long-term impact on your retirement nest egg, Ryanne breaks down why borrowing from your future self is rarely a win. Whether you’re considering a loan or just curious about smarter strategies, Ryanne’s expert insights will equip you to make informed decisions. And remember - Acropolis is always there to help guide you when you have questions, simply call the participant services line and ask to speak to an Acropolis advisor. ☎️ 1-888-838-0767 . Arm yourself with the knowledge you need before tapping into your 401(k)!

For more benefit tips and wellness info, follow essehealthbenefitsu on Facebook, Instagram, or YouTube.

------ Music Credit: "Cheery Monday" - Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 http://creativecommons.org/licenses/by/3.0/

  continue reading

23 episodes

Artwork
iconShare
 
Manage episode 493158721 series 2319807
Content provided by Joyce Timmons. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Joyce Timmons or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Taking a loan from your 401(k) might seem like a simple fix when cash is tight—but it could cost you more than you think. In this episode, we welcome back Ryanne Harmann, QKC, QKA, from Acropolis Investment Management to explore the hidden risks with borrowing from your retirement savings. From double taxation and surprise tax bills to the long-term impact on your retirement nest egg, Ryanne breaks down why borrowing from your future self is rarely a win. Whether you’re considering a loan or just curious about smarter strategies, Ryanne’s expert insights will equip you to make informed decisions. And remember - Acropolis is always there to help guide you when you have questions, simply call the participant services line and ask to speak to an Acropolis advisor. ☎️ 1-888-838-0767 . Arm yourself with the knowledge you need before tapping into your 401(k)!

For more benefit tips and wellness info, follow essehealthbenefitsu on Facebook, Instagram, or YouTube.

------ Music Credit: "Cheery Monday" - Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 http://creativecommons.org/licenses/by/3.0/

  continue reading

23 episodes

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