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A comment on If You Want to Go Broke, Listen to a Billionaire. Parent comment

Re:If You Want to Go Broke, Listen to a Billionaire by perl4ever on Tuesday October 01, 2019 @07:30PM (#21132024)
I don't know. When I had the option of taking a 401k loan, my impression was it was a thing that had no reason to exist, much like an HSA. It's all a net loss to society to set up these games with rules for avoiding taxes that bait people into making decisions that cause problems later on.
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Re:If You Want to Go Broke, Listen to a Billionaire by zelon88 on Tuesday October 01, 2019 @07:56PM (#21132169)
I think the only time it truly makes sense is when your credit is so bad you can't take out another line of credit, assuming you can afford to pay it back.

The only pro that I could see to it was that it doesn't require a credit check. You're borrowing your own money.

However, this is far outweighed by the fact that if you leave the company the balance is due immediately. So if you borrow $10k and get fired with a $5k balance you will immediately owe your company $5k.

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