401K LOANS | TRUE COST EXPLAINED

401K LOANS |TRUE COST EXPLAINED

401k loans are tricky. They seem like a great idea. You’re borrowing from yourself instead of someone else. But the true cost is tough to see. So in this video I’m going to explain the true cost of 401k loans by sharing the story of our $42,000 mistake.

So if you're considering taking a 401k loan out of your retirement account, you NEED to watch this to see a real life example of the true cost of a 401k loan.

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OTHER VIDEOS ABOUT OUR LOVE/HATE RELATIONSHIP WITH ALL OF OUR DEBT

OUR STORY
I told almost our entire backstory in one sitting (about 30 minutes) on the Chain of Wealth Podcast in September 2019. Click here to hear how we landed in such a mess!    • OUR STORY  

OUR DEBT CONFESSION 2018
Our original debt confession video from March 2018.    • OUR DEBT CONFESSION  

OUR DEBT CONFESSION UPDATE 2020
Our original debt confession video from March 2018.    • OUR DEBT CONFESSION   2020 UPDATE  

MY DEBT FAIL
This is where I talk about how I was sued by Citibank and what that whole process entailed.    • MY DEBT FAIL  

MY SICK AND TIRED OF BEING SICK AND TIRED MOMENT
I talk about the exact moment in my life when I had had enough and what led up to that pivotal moment.    • I'M SICK AND TIRED OF BEING SICK AND TIRED!  

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WATCH OUR MONTHLY BUDGET REPORTS HERE:
   • Budget Reports  

WATCH OUR MONTHLY BUDGET SET UP VIDEOS HERE:
   • Budget With Me  

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TubeBuddy:
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VIDEO EDITING SOFTWARE I USE:
Filmora by Wondershare:

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This video may contain links to affiliate programs. If you click on the link and make a purchase I will get a small percentage of that sale at NO extra charge to you. However, you are under no obligation to buy anything I ever mention in a video.