Dipping Into the Nest Egg Wall Street Journal (05/01/03) Vol. 32, No. 4 p.D1; Opdyke, Jeff D.
This article says more workers are choosing to borrow against their 401(k) plans and cautions that doing so is not always a good idea. One in every four workers with a 401(k) plan that allows loans borrowed against the plan in 2001, according to figures from the Profit Sharing/401(k) Council of America, and borrowing against plans grew by at least 10 percent last year. Although borrowing against 401(k) plans is acceptable under some circumstances, many experts caution that the practice is dangerous and could end up draining people's retirement assets.