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Part: 4 Taking Money out of Your 401(k) - Pg. 166

166 Part 4. Taking Money out of Your 401(k) In Hamlet, William Shakespeare said, "Neither a borrower, nor a lender be." Will would turn over in his grave if he heard about 401(k) plans, because when you borrow from yourself, you are both at the same time! If you were a bank, would you lend money to yourself? Good thing 401(k) plans don't ask to see financial statements or run a credit check before giving you money. Does it make sense to borrow from yourself? What is the "true" cost of taking that loan? This part of the book will help answer these questions and alert you to what happens to your money during specific life events like the three Ds: divorce, disability, and death. We'll wrap up with retirement, the best ways to get money out of your 401(k), and some tips on making your money last throughout your entire retired life.