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10 Ways To Borrow When Retired

Many retirees think they can’t take out a loan—for a car, a home, or an emergency—because they no longer receive a salary. In fact, while it can be harder to qualify to borrow in retirement, it’s far from impossible. One thing generally to avoid, according to most experts, is borrowing from retirement plans—such as 401(k)s, individual retirement accounts (IRAs), or pensions—as doing so may adversely affect both your savings and the income you count on in retirement.