<prompt> Human: I have a car loan 12,000, and home improvement loan 8,000. A 401K loan would give me a lower interest rate, then what I pay for either loan, plus I pay it out to myself, only be out 50, for processing the loan, and the loan amount wouldnt be invested.I can see the SP 500 roi, from 1 year probably not the best benchmark, but a starting point is 13, much higher than the 6, 7 interest Im paying for either loan, but I was reading to not always use past performance to predict or try to future returns.is it advisable to take a 401K loan? and if so, when is a good idea?  <response>: Most of the time, if you leave your employer for any reason, your entire loan amount needs to be repaid within 60 days. If you are unable to pay it back, the entire amount is considered an early withdrawal, and is subject to marginal taxes and 10 early withdrawal penalty. 