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Beware of Taking Out a Pension Advance Loan

February 2, 2018

If you have an asset, you can probably get a loan against it. Your paycheck, your tax return, your home, your 401(k) and, yes, even your pension if you’re one of the relatively few people who still has one.

If you’ve never heard of a pension advance, consider yourself lucky. They’re also called pension sales, loans or buyouts. Whatever the name, personal finance experts and government agencies advise steering clear of these products.

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