While tapping one’s 401(k) may be a necessity, Levinson said people should view it as a last resort. “Don’t mortgage your future if you have other options,” he said.
He thinks the $100,000 loan amount allowed is too high, and that people may jump at that number and later regret taking out that much.
The $2 trillion package was approved by the Senate late Wednesday and the House is scheduled to vote on Friday. President Donald Trump has said he would sign the bill into law immediately.
This article was provided by Bloomberg News.