Bank like a financial pro with the Alliant mobile app. Make payments, deposit checks, manage cards and so much more.
Renovate your kitchen, pay off high-interest debt, or have access to emergency funds when you need it with an Alliant Home Equity Line of Credit.
Browse new and used vehicle inventory, and qualify for a rate discount when you buy!81
Separate each of your savings goals into an Alliant Supplemental Savings Account so you can visualize your progress.
By Jess Bedsole
Hopefully, you have a 401(k) in place already where you and your employer contribute the maximum allowed amount per pay period. If so, that’s great! You’re on the right path to having a retirement nest egg when your working days are over.
However, sometimes if you are maximizing your retirement contributions, the cash flow you have left over is more limited than you’d like. Maybe you’re hoping to put a down payment on a house or perhaps medical or credit card bills have piled high or your home needs some renovations this year.
Here are some things to know about if you are thinking of borrowing against your 401(k) plan:
Now that you know it can be quite costly to borrow against your 401(k) plan, you probably want to know some alternatives to having a little extra cash flow.
If you are already a homeowner, consider a HELOC for additional funds. You can install a new kitchen, repair an outdated patio or put in a pool.
Trying to buy your first home? Think about where you can cut costs first to build your emergency fund and checking account. Consider canceling cable, simplifying your cellular plan or taking the weekly dinner and a movie off of your social calendar.
There are many ways to boost your savings today and prevent borrowing from your 401(k). Do the research to decide if taking a 401(k) loan is right for you, since it will definitely affect you in the long-run, when it’s time to retire.
Sign up for our monthly newsletter to help you stay at the top of your financial game.
Welcome! You'll now have financial tips sent to you directly each month.
You are leaving Alliant’s website to enter a website hosted by an organization separate from Alliant Credit Union. The products and services on this website are being offered through LPL Financial or its affiliates, which are separate entities from, and not affiliates of, Alliant Credit Union.The privacy and security policies of the site may differ from those of Alliant Credit Union.
You are leaving an Alliant Credit Union website and are about to enter a website operated by a third-party, independent from Alliant Credit Union. Alliant Credit Union does not manage the operation or content of the website you are about to enter. Alliant Credit Union is not responsible for the content and does not provide any products or services at this third-party website. The privacy and security policies of the site may differ from those of Alliant Credit Union.