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If you take out a loan against your retirement savings, it could create a problem when you leave your current employment. Any money you've borrowed has to be repaid when you terminate or it will be considered a distribution.
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Usually but not always. Some companies will allow you to carry a loan on your 401k even after you leave.
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Another problem is that money you borrow from a 401k is pretax money. The money you pay back is after tax money. While you pay yourself the interest on such a loan, you pay tax twice (the after tax I mentioned plus the tax you pay when you retire and begin taking distributions).
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This is the main reason I usually tell people to avoid 401k loans, but if the OP is only going to borrow a few months worth of living expenses and will pay it back soon, this is not a big deal.
The biggest cost of short term loans is often the origination fees, so a 401k loan or bank line of credit might be your best option. Be careful about refinancing or taking out a second mortgage because those have high origination fees (or else prepayment penalties).
Best of luck.
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