401(k) Loan Costs: Double Tax, Lost Growth, Job Loss Risk

Thinking about borrowing from your own 401(k)? This episode covers the four costs most people miss, plus a scam tax twist and the Zelle trap. In This Episode ✓ A pig butchering victim who lost $600,000, then got a $225,000 IRS bill ✓ The friend who pays for everything, and the red flags to watch for ✓ The 401(k) loan: four costs of paying yourself back ✓ A $4,000 hybrid premium and five drawbacks dealers skip ✓ The Zelle "friends and family" trap ✓ Check in on this week's Money Move: list your fixed and variable expenses Resources Win Ralph's Money giveaway: https://www.becomingfinanciallyconfident.com/giveaway Book a call with Ralph: https://www.ralphestepjr.com/schedule Year-end review with Ralph: https://www.becomingfinanciallyconfident.com/yearend Quicken Simplifi: https://www.becomingfinanciallyconfident.com/quicken LawDepot: https://www.becomingfinanciallyconfident.com/lawdepot Follow Becoming Financially Confident LinkedIn: https://www.linkedin.com/company/becomingfinanciallyconfident Facebook Group: https://www.facebook.com/share/g/1HpWqv8jp9/ Instagram: https://www.instagram.com/becomingfinanciallyconfident Skool Community: https://www.skool.com/becoming-financially-confident-7556 Have a money question? Send it here: becomingfinanciallyconfident.com/voicemail Companies Mentioned Quicken Simplifi LawDepot Zelle PayPal Venmo Cash App LinkedIn Toyota Hummer Amazon Hershey's Reese's