1) If you take out a loan and are employed, the money comes back out of your payroll and goes back into the plan - as does the interest on the loan - since you are essentially borrowing money from yourself. Yes, it hurts your nest egg temporarily and over the long run, but it isn’t fatal as long as you stay employed and the debt gets paid.
Yes. We did that 10 - 15 years ago to pay off credit cards and came out with more money each paycheck. Best thing we ever did.
I too took out loans because I am barely making it. I took money from my 401k and it is being paid back by deductions in my paycheck. Since I just requested my second loan I won’t be able to take out anymore. Though the way things are going and I may hit a bigger hardship and may stop contributing and maybe withdraw everything if I can.
I dam sure know I will not have those Democraps lay one finger on my hard earn money.