Many retirees think they can’t take out a loan because they no longer receive a salary. In fact, while it can be harder to qualify to borrow in retirement, it is far from impossible.
One thing you should generally avoid, according to most experts, is borrowing from your retirement plan, such as a 401(k), an IRA or a pension. That’s because doing so may adversely affect your savings and the income you count on in retirement. Instead, consider these 10 other options available to retirees.
