Should I borrow from my 401k ?

Short answer: Not if you can help it.

Learn more: Taking a loan from your 401(k) is something you CAN DO, but SHOULDN’T DO. By doing so, you’ll make it harder to meet your goals. The money you take will miss out on the gains it would have otherwise benefited from. It will be more difficult to maintain your current contribution rate if you also have the additional burden of paying back your loan.

Important information you should know: You will be paying back your loan with after-tax dollars. Because that money is taxed again when you withdraw it from your account at retirement, you’re actually paying taxes on the same money twice.

Rare circumstances may occur where borrowing from 401(k) is your only option, but it should be your last resort.