Sometimes we find ourselves in a situation where we need a little bit of short term cash and would like to know where to get it at the most affordable rate. This week’s episode of Grow Money Business is all about loans and cash. Throughout the episode, we discuss 401K plans, personal loans, credit cards, margin loans, home equity lines of credit, and more.

 

Show Notes

[04.08] Personal loans –  Grant starts off the conversation by defining personal loans.

[08.00] HELOC – Grant explains the home equity line of credit, as well as its advantages and disadvantages.

[16.38] 401K plan – Grant dives into how 401K loans work, the advantages of using one, and the taxes and penalties that can come with them.

[19.00] Margin loans – Grant explains margin loans and the implications that come with them.

[29.20] Hypothecation – Grant defines hypothecation and what’s happening behind the scenes.

 

Resources

What is a Margin Loan and How Does It Work? –

supermoney.com/what-is-a-margin-loan-and-how-does-it-work/

 

401(k) Loans: Reasons to Borrow, Plus Rules and Regulations –

investopedia.com/articles/retirement/08/borrow-from-401k-loan.asp