Borrowing from your 401(k) might seem like an appealing financial strategy, but it should be avoided in most cases.

We are rapidly approaching the end of the year, which means cooler weather, holiday cheer, and everyone’s favorite topic: required minimum distributions!

A 401(k) match is additional money your employer adds to your 401(k) when you contribute a certain amount, up to a percentage of your salary. Some people refer to this as “free money”: you don’t have to anything to earn it other than contribute to your retirement plan. Another valuable source of this “free money” is an Employee Stock Purchase Plan (ESPP). However, not many people use it. In fact, while many mid and large-size companies offer an ESPP, less than 50% of those eligible employees actually participate.