<prompt> Human: I tried looking in the side bar for taking a loan from 401k couldnt find anything usefulShould I take a loan from 401k. I hear the interest I pay on loan goes towards my 401k so it should beneficial for me to take a loan from 401k than other banks. Thoughts.Do you guys know of pros and cons and if so do the pros outweighs the cons or do the cons outweigh the pros. Thanks  <response>: If you leave you job you probably have to re-pay the loan in full or you will owe a 10 penalty and ordinary income tax on that balance. Also you would be taking the money out of the market and would loss any gains you would have otherwise gotten. 