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I recently had to borrow $50K from my 401K for a real estate deal. I understand that the repayments are made to myself in the plan. Now I can no longer contribute to this plan because I don't work there anymore. So it seems to me that if I borrow money from myself and then pay it back with interest,this would provide a way of getting more money into the plan. Am I correct in this assumption? Is there any shortfall in this approach?
Thanks for any help!!
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