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One of the most frequent areas I’m asked for financial advice on how to borrow from retirement funds. In particular people are interested in borrowing money from their IRA. The laws are simply set up to prevent you from doing this you can’t borrow from IRA funds. But it’s a little bit of misnomer. There actually is a way but it’s a bit of a loophole and not highly recommended. In a nutshell, you can use the rollover. And borrow against your individual retirement account for a very short span of time.

Another all types of perils associated with this. If you don’t have the money paid back in time you’ll be subject to taxes and fees that could wipe out nearly half of your savings very quickly. You also run the risk of missing market surges.

Still it is an option and although it’s not recommended it’s helpful to understand exactly what you can do with your funds.