According to the Transamerica Center for Retirement, more than one-third of workers have taken a loan, early withdrawal, or hardship withdrawal from their 401(k). It might feel like "borrowing from yourself," but as Peter with Richon Planning and Erin Kennedy explain, it can come with long-term consequences: missed market growth, double taxation, and a smaller nest egg when you need it most.

In our latest conversation, we're breaking down the real cost of a 401(k) loan, including:

💸 How even a small loan today can erase tens of thousands in future gains.

📉 Why you're actually taxed twice on what you repay.

⏳ What happens if you change jobs before paying it off.

💡 And the smarter financial moves to consider first.

If you've ever thought about tapping your retirement account, this is one interview you shouldn't miss. And if you'd like to talk through better options if you're facing a financial hardship, please call Peter at (919) 300-5886 or visit www.RichonPlanning.com