Should I Tap My 401(k) For a Loan If a Recession Hits?

Should I Tap My 401(k) For a Loan If a Recession Hits?

Key Points A lot of Americans today are worried about a recession. It can be tempting to take out a 401(k) loan when you need money. You should know that this could be a very risky means of borrowing. Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another min…

401(k) Plan: What It Is and How It Works - NerdWallet

A 401(k) plan is a tax-advantaged retirement account employers offer to help their employees invest for retirement. The two most common types of 401(k) plans are traditional and Roth.

Fox News Guest Tells Viewers To Put Aside 401(k) Concerns

Share Tweet Pin Email By Molly Goddard 2:47am PDT, Apr 23, 2025 _ One wealthy equity fund manager wants people to put their faith in Donald Trump. During a Monday, April 21, appearance on Fox News' The Ingraham Angle, millionaire Grant Cardone slammed people expressing concern over their retirement accounts taking a hit in response to Trump's "Liberation Day" tariffs, claiming it's a slight to the president and shows their lack of conf…

Shark Tank's Kevin O'Leary sends strong message on 401(k)s, recession

Amid increasing worries about market volatility and the possibility of a recession, many American workers are deeply focused on handling the financial challenges of day-to-day life — paying for mortgages and rents, keeping up with rising grocery bills, fuel expenses and other costs. As they tackle…