You Searched For "401k loan" and got 20 results
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2 mins read
Millennials have 'phantom wealth' hidden in their homes and 401Ks — but they don't feel rich
Millennials are wealthier than boomers were at this point in their lives. Home prices and retiremen…
Katie Notopoulos
10 mins read
Meet the millennials who got student-loan forgiveness and now have the freedom to save for retirement, grow their families, and consider going back to school
BI spoke to millennials who received student-loan forgiveness over the past few years due to Biden'…
Ayelet Sheffey,Katherine Tang…
4 mins read
A millennial who made $170,000 secretly working two remote jobs says it helped him pay off about $50,000 in student loans
An Arizona-based millennial said secretly working a second remote job doubled his income and helped…
Jacob Zinkula
6 mins read
I left California for Las Vegas. Even after a $39,000 pay cut, my house is bigger, my 401(k) contributions went up, and the quality of my life improved.
A program manager at a startup making $184K moved from California to Las Vegas. She quit and took a…
Jane Zhang
2 mins read
Tech companies got rid of your free lunch. Now they're coming for your 401(k) and healthcare.
Tech companies including Google and Twitter are cutting perks, and may soon turn to the benefits em…
Emilia David
6 mins read
Borrowing from your 401(k) plan can be a fast, advantageous way to meet serious financial needs - here's everything you need to know about 401(k) loans
Borrowing from a 401(k) avoids the usual taxes and penalties that early withdrawals incur. You repa…
Walecia Konrad
3 mins read
Some workers are choosing housing and student loan benefits over a retirement plan, and it says a lot about America's cost-of-living crisis
Companies and workers are rethinking job benefits, with a growing focus on non-traditional perks li…
Cork Gaines
5 mins read
4 things I've done this year to take control of my money and get on the path to building wealth
My mother opened a savings account for me when I was in the first grade. Now a college graduate, I'…
Bria Overs
8 mins read
Borrowing from your 401(k) plan can be helpful in accessing funds when you need it - here's what to know
A 401(k) loan allows you to borrow from your retirement account. But you'll have to pay interest an…
Choncé Maddox
5 mins read
Meet a couple with 5 kids who are barely making it despite working 4 jobs: 'It shocks me that $100k feels like poverty'
April Schultz and her husband earn a gross income of $130,000, but it's not enough for their family…
Noah Sheidlower
9 mins read
403(b) vs. 401(k): What's the difference?
403(b) and 401(k) plans are two similar options employers provide for retirement savings, but there…
Robin Kavanagh
2 mins read
Some student-loan borrowers can now get a retirement savings boost if they make payments on their debt
A provision in Secure 2.0 that allows employers to put the amount of student-loan borrowers' paymen…
Ayelet Sheffey
8 mins read
Understanding the key differences between an IRA and a 401(k)
When it comes to 401(k) plans and IRAs, neither option is better in general, but depending on the f…
Choncé Maddox
7 mins read
What to know about 401(k)s - an investment vehicle that can help you to save for retirement
A 401(k) plan is an employer-sponsored tax-advantaged retirement account. Employees can contribute …
Veneta Lusk
2 mins read
Workers are flooding their retirement accounts with record amounts of cash as confidence recovers following pandemic stress
The average 401(k) employee savings rate logged a record rate of 9.3% in the second quarter, said F…
Carla Mozée
5 mins read
How to withdraw from your traditional 401(k) account early — the strategies to avoid penalties and fees
A 401(k) early withdrawal —taking funds from the account before age 59½ — usually triggers a 20% ta…
Jean Folger
2 mins read
Americans are burning through their savings during the pandemic — but here's why you should have an emergency fund
About half of Americans burned through their savings by the end of April, just weeks into the pande…
Daniel T. Allen
4 mins read
Meet a single mom and adjunct professor with $430,000 in student debt: 'I'm in a hole that I'm never going to get out of'
Maria "absolutely" regrets taking out loans to further her education, especially after a layoff and…
Ayelet Sheffey
3 mins read
I make $20 an hour at a burger chain in Seattle. The healthcare perks, paid vacation, and 401(k) matches are just a few reasons why I love my job.
Dick's Drive-In gave 22-year-old Jasmine Ritter a theater scholarship while she was in school, and …
Claire Turrell
4 mins read
Meet a 37-year-old with a student-loan bill $30,000 higher than when she graduated from college in 2008: 'I have a good job and no kids, but I have this debt'
Shanna Bennett chose a career in business psychology thinking she'd make enough to pay her debts. N…