What are the main downsides of taking a loan from IRA? Also, can I pay back faster? I work for EY.

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If the market is doing well you are not earning money on your loan funds.... however, if the market is dipping.. your loan amount is not impacted. When you pay back the loan you pay interest to yourself.... lots of pros and cons to this. I borrowed before for a home construction project and the market tanked... I probably would have lost 25 % of the loan due to market flux. Good luck with your decision

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Thank You

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