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Regular Contributor
ccubedzx3
Posts: 171
Registered: ‎04-30-2012

Can savings come from 401k? or must be from "savings" account?

[ Edited ]

We are currently building a new home and were told that we would close in April.  I plan on taking a loan from my 401k to cover costs right about when we close.  Is it ok to do this? Another scenario is to take a loan out now from my 401k, and throw it in my savings account until we need it.  Which is the best option?

 

Thanks!


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