Borrowing from a 401K should be last resort

Borrowing from a 401K should be last resort

Cash-strapped consumers are developing a bad habit: using their retirement
savings to tackle everything from credit-card debt and late mortgage payments to
income tax bills.
In 2007, 18% of employees reported taking out a loan from
their 401(k) or 403(b) (the employer-funded equivalent for public educators and
nonprofit employees), up from 11% in 2006, according to the Transamerica Center
for Retirement Studies, a nonprofit. ... .Borrowing from 401k last resort