{ "media_type": "text", "post_content": "Can anyone tell me the process to obtain loan on your 401k in deloitte ?", "post_id": "5b5a80a1de67e200183f979c", "reply_count": 2, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Can anyone tell me the process to obtain loan on your 401k in deloitte ?

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You just do it on vanguard - it takes like 10 minutes. There is a $50 fee that then auto debits from your paycheck based on payback timing and amount that you set. Your money is pulled out of market so you don’t get the market returns and you have to payback -4%ish interest but it goes into your 401k so not a total loss. If you lose your job/leave Deloitte you have to payback in 15-30 days or it becomes a taxable event with a redemption penalty. You can do this as much as you want but you have to fully pay off one loan before the next

Thanks SM1

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