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Influencers say Instagram Reels is fueling growth and new followers
Instagram; Samantha Lee/InsiderHi, this is Amanda Perelli and welcome back to Insider Influencers, our weekly rundown on the influencer and creator economy. Sign up for the newsletter here.When Instagram first came out with a TikTok copycat feature, it got mixed reviews, with some calling Reels a "dud."Creators weren't exactly going wild for the short-form video feature.But since posting Reels regularly, many creators have said the feature has become a secret weapon to supercharge their gro -
Billionaire investor Seth Klarman lambasts the Fed for distorting markets - and says Tesla's stock has surged 'seemingly beyond all reason'
Seth Klarman, president and CEO of the The Baupost Group
Getty Images/ Scott OlsonBillionaire investor Seth Klarman warns stimulus and interest rates are masking market risks.The Baupost chief compared investors to "frogs in water that is slowly being heated to a boil."Klarman added that Tesla stock has surged "seemingly beyond all reason."Visit Business Insider's homepage for more stories.A billionaire investor heralded as "the next Warren Buffett" blasted the Federal Reserve and Treasury in a -
IHOP's new burritos show the importance of to-go options with fewer commuters stopping for breakfast on the way to work
New IHOP menu.
iHop
IHOP is introducing a line of breakfast burritos and bowls.
The new dishes are an attempt to attract more takeout customers.
The pandemic hurt IHOP's sales in 2020, and it announced closures of 100 restaurants.
Visit Business Insider's homepage for more stories.
IHOP is adding new breakfast bowls and burritos to menus as a to-go option.The six new options start at $5.99, and include country breakfast, spicy poblano fajita, and southwest chicken. "Burritos are the -
53 years after capturing a US spy ship in a deadly attack, North Korea is still bragging about its prize
The crew of USS Pueblo at a press conference in North Korea in 1968.
Korean Central News Agency/Korea News Service via AP Images
In January 1968, US Navy spy ship USS Pueblo left Japan for a normal operation off the coast of North Korea, where it could eavesdrop on North Korean and Soviet communications.
Days later, however, the Pueblo was interrupted by the North Korean navy, which seized the ship in a deadly attack.
More than 50 years later, Pueblo remains on display in Pyongyang, a symbol of -
Tucker Carlson stressed about Biden's war on white supremacy and Sean Hannity renewed attacks on Hunter in a first wave of Fox News attacks on the new administration
Fox News' Tucker Carlson stirred fears of President Biden's war in white supremacy in his Inauguration Day show on January 20.
Fox News
Fox News hosts reacted to Joe Biden's inauguration with attacks and fear-mongering.
Tucker Carlson said Biden's war on white supremacy was a bid to persecute ordinary conservatives.
The shows appeared to give a preview for how the network will handle Biden's presidency.
Visit Business Insider's homepage for more stories.
For millions watching the in -
Fauci confirms that Biden will remain in the WHO and join its vaccine scheme, COVAX, which Trump claimed was 'China-centric' and refused to be a part of
President-elect Joe Biden rolls up his sleeve to receive a COVID-19 vaccination from nurse practitioner Tabe Mase at ChristianaCare Christiana Hospital as his wife Jill Biden stands by on December 21, 2020 in Newark, Delaware.
Photo by Joshua Roberts/Getty Images
President Joe Biden's administration has confirmed that the US will remain a part of the World Health Organization (WHO) and rejoin its vaccine distribution scheme, COVAX.
Dr. Anthony Fauci, Biden's chief medical advisor, made the anno -
A former Army captain has been arrested after the FBI said he uploaded a Facebook video saying he 'stormed' the Capitol
Supporters of President Donald Trump wear gas masks and military-style apparel as they walk around inside the Rotunda after breaching the US Capitol in Washington, DC, January 6, 2021.
Saul Loeb/Getty Images
A former Army captain has been arrested in connection with the January 6 riot at the Capitol.
The FBI said that Gabriel Augustin Garcia published live footage from inside the building.
'We just went ahead and stormed the Capitol,' Garcia says in the video footage, according to an FBI docume -
Inaugural poet Amanda Gorman's upcoming books have rocketed to the top of Amazon's bestsellers list
Amanda Gorman delivers a poem during the 59th Presidential Inauguration in Washington, U.S., January 20, 2021.
Erin Schaff/Pool via Reuters
Books by inaugural poet Amanda Gorman shot to the top of Amazon's bestsellers list.
A division of Penguin Random House will publish two books by Gorman in September 2021.
"Maya Angelou is cheering – and so am I," Oprah Winfrey wrote on Twitter.
Visit Business Insider's homepage for more stories.
Two upcoming books by inaugural poet A -
Biden's new presidential Twitter account follows just 12 people: Members of his White House and Chrissy Teigen
A composite image of Chrissy Teigen and President Joe Biden.
Getty/Getty
Biden's new official presidential Twitter account follows just 12 other profiles.
The accounts @POTUS follows are all White House figures, except celebrity Chrissy Teigen.
Teigen asked Biden for a follow on Wednesday, saying she had been blocked by Trump since 2017.
Visit Business Insider's homepage for more stories.
President Joe Biden took over the official presidential Twitter account, @POTUS, on Wednesday, -
Trump's golf clubs and hotels suffered huge revenue drops in 2020, some by as much as 63%, according to a financial disclosure released hours after he left the White House
Former US President Donald Trump drives a buggy at one of his golf clubs.
Getty
Revenues at former President Donald Trump's hotels and golf clubs suffered during the coronavirus pandemic.
Revenues at the Trump International Hotel in Washington fell 63% in 2020 compared to 2019, a financial disclosure released Wednesday revealed.
Most Trump golf clubs saw revenues fall by more than 10%, and revenues at Trump Turnberry in Scotland dropped by about 62%.
Visit Business Insider's homepage for -
Joe Biden got 5 million followers in less than 24 hours after the @POTUS account was purged of everyone who followed it under Trump
President Joe Biden in the Oval Office after his inauguration on January 20, 2021.
Chip Somodevilla/Getty Images
Joe Biden gained 5 million followers in less than 24 hours after taking over the @POTUS account.
Before it had 33 million followers amassed under Presidents Obama and Trump.
But Twitter reset the count to zero before handing it over on Wednesday.
Visit Business Insider's homepage for more stories.
President Joe Biden gained 4.9 million followers in less than 24 hours after he was ina -
Biden freezes all federal regulatory proposals, including Mnuchin's controversial crypto wallet legislation, until his new administration can review them
Tom Brenner/ReutersJoe Biden halted all last-minute rules from Trump's administration, including those for cryptocurrency.Hours after Biden's inauguration ceremony, the order was circulated in a memo to all federal agencies.Controversial crypto regulations proposed by Steve Mnuchin on December 18 were met with criticism.Sign up here our daily newsletter, 10 Things Before the Opening Bell.President Joe Biden has frozen all federal regulatory proposals, including former Treasury Secretary Steve Mn -
Video shows contractors blowing up mountains in Arizona for Trump's border wall after Biden became president. They have 7 days to stop.
A video still of blasting for border wall construction in Guadalupe Canyon, Arizona, on the day of Biden's inauguration.
John Darwin Kurc
Workers on the US-Mexico wall set off explosions on the border even after President Biden took office.
Footage from Inauguration Day shows dynamiting work for Trump's doomed border wall.
Biden later signed a proclamation mandating that the work end within 7 days.
Visit Business Insider's homepage for more stories.
Contractors in Arizona kept setting off dynam -
Trump spent Inauguration Day fretting over his Senate impeachment trial and asking allies which Republicans could vote against him, report says
Former first lady Melania Trump and President Donald Trump arrive in Florida during President Joe Biden's inauguration.
Noam Galai/Getty
Trump spent Inauguration Day worrying about his Senate impeachment trial, The Daily Beast reported.
He reportedly spent the day asking allies for help and asking if some Republicans might turn on him.
If the Senate votes to impeach Trump, he could be forever barred from running for office.
Visit Business Insider's homepage for more stories.
Former President Do -
Big Tech rejoiced over Biden's inauguration day promises on immigration and climate change - but Mark Zuckerberg and Elon Musk were notably silent
President Joe Biden waves after being sworn in during his inauguration on the West Front of the U.S. Capitol on January 20, 2021 in Washington, DC.
Jonathan Ernst/Getty Images
Joe Biden was sworn in as President of the United States on Wednesday.
Big Tech leaders gave public statements congratulating Biden and Vice President Kamala Harris.
They welcomed Biden's policies on climate change and immigration, in particular.
Visit Business Insider's homepage for more stories.
As Biden was sworn in as -
Google's new union is outraged as the firm investigates a second AI ethicist: 'Being targeted by one of the world's largest corporations is terrifying.'
Protesters at the 2018 Google walkout.
REUTERS/Stephen Lam
Google's new union has hit out against the firm's investigation of another AI ethicist.
The tech giant has locked Margaret Mitchell out of her accounts, saying she exfiltrated and shared thousands of sensitive files with external accounts.
The Alphabet Workers Union sided with Mitchell and hit out at Google for 'directly attacking' her.
Visit Business Insider's homepage for more stories.
The newly formed Alphabet Workers Union has -
Credit exec resurfaces post-Blackstone feud - State Street is slashing 1,200 jobs - Inside the biggest SPAC deal ever
FoxGood morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:Michael Whitman, the former Blackstone exec tangled up in an epic non-compete battle, has quietly started his new gigUnited Wholesale Mortgage is near the biggest SPAC deal ever - and its CEO didn't even know what a SPAC was nine months agoPlaid is on a massive hiring spree now that Visa isn't buying itIf you're not yet a subscriber, you can sign up here to get your daily dose of the storie -
3 former presidents celebrated the continuity of US democracy in a pointed rebuke of the Trump era
Former US Presidents George W. Bush, Bill Clinton, and Barack Obama in a taped message as part of President Joe Biden's inauguration.
CNBC
Bill Clinton, George W. Bush, and Barack Obama recorded a message of unity for Joe Biden's inauguration.
The three former presidents praised democracy and the peaceful transition of power while wishing Biden well.
Trump broke with tradition and skipped the inauguration, and did not name Biden in his farewell speech.
Visit Business Insider's homepage for more -
Biden said the letter Trump left him in the Oval Office was 'very generous' but that he needs to talk to Trump before making its contents public
A composite image of President Joe Biden and former President Donald Trump.
Salwan Georges/The Washington Post via Getty Images,Tasos Katopodis/Getty Images
Biden said Trump left him a "very generous" letter, but would not release its contents yet.
Departing presidents traditionally leave their successor a letter in the Oval Office Resolute Desk.
Biden began his term issuing a stream of executive orders, many overturning Trump's policies.
Visit Business Insider's homepage for more stories.
Pres -
Twitter locked the account of China's US embassy over a post that called Uighur women 'baby-making machines'
Beata Zawrzel/NurPhoto via Getty Images
On January 7, China's US embassy posted a tweet referring to oppressed Uighur women as "baby-making machines."
Twitter removed the tweet on January 9, saying it violated the company's "policy against dehumanization."
Twitter said Wednesday the account is still locked, meaning the embassy still hasn't removed the tweet.
Visit Business Insider's homepage for more stories.
Twitter locked the account of the Chinese Embassy in the US over a tweet that referred -
Tariffs, Morón, Rota, Venezuela or the Google tax: how the new Biden government will impact Spain
The term of Joe Biden and Kamala Harris begins today. The president-elect and his vice president will take office on Wednesday in a ceremony that will not be attended by the outgoing president Donald Trump, who has spent his last day locked up in the White House. His schedule said he would work "late" and make "many calls" and have "many meetings" (sic).With the arrival of the Democrats in power, the US enters a new era of diplomatic relations that could have a particular impact on the European -
Online child sex abuse spiked by 31% in 2020, with at least 13 million disturbing images on Facebook and Instagram
Melissa, a survivor of sexual abuse whose last name was not disclosed, speaks at the National Center for Missing and Exploited Children August 2, 2010 in Alexandria, Virginia.
Win McNamee/Getty Images
There was a sharp increase in child sexual abuse imagery online in 2020, data shows.
Facebook said it detected 13 million images from July to September alone.
Coronavirus lockdowns and livestreamed abuse fueled the increase, an expert told Insider.
Visit Business Insider's homepage for -
US stocks head for more record highs as investors cheer upbeat earnings and Joe Biden's stimulus plans
President Joe Biden has pledged to act fast on stimulus, boosting market optimism
Tom Brenner/Reuters
US stock futures pointed towards further all-time highs as tech came roaring back.
Stocks rose sharply yesterday after Netflix's earnings and Joe Biden was sworn in.
The dollar fell further on Thursday as investors bought stocks amid stimulus optimism.
Sign up here our daily newsletter, 10 Things Before the Opening Bell.
US stocks were set to notch up more record highs on Thursday, as -
Ted Cruz claims Joe Biden is 'more interested' in Paris than Pittsburgh, weeks after attempting to overturn Pennsylvania's election results
Republican Sen. Ted Cruz of Texas at a campaign rally in Georgia on January 2, 2021.
Brynn Anderson/AP
Sen. Ted Cruz criticized President Biden with a comparison that may have missed the mark.
He said Biden rejoining the Paris climate agreement showed he cared more for Paris than Pittsburgh.
Pittsburgh is in fact doing well on climate targets, though Cruz did recently challenge its election results.
Visit Business Insider's homepage for more stories.
Sen. Ted Cruz of Texas kicked off Joe Biden' -
BlackRock has joined the bitcoin business - the world's largest asset manager has said two of its funds can now invest in the cryptocurrency
REUTERS/Eric ThayerBlackRock has authorized two of its funds to invest in bitcoin futures, according to filings with the SEC.The two funds are: BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund.Both funds are allowed to use only cash-settled bitcoin futures, among other assets.Sign up here our daily newsletter, 10 Things Before the Opening Bell.BlackRock has authorized two of its funds to invest in bitcoin futures, according to filings released Wednesday with the Secu -
"Detroit sends its regards" - Deutsche Bank analysts warn that Germany's good years as a car location could be over
In a new study, market analysts at Deutsche Bank Research warn that Germany will not return to its former greatness as an automotive location.They say that the coronavirus pandemic and the associated measures are not the only factors responsible for this. Climate and energy policies, for example, are reducing the capital stock of the metal and chemical industries, which are part of the automotive value chain."Classic location factors" such as tax burdens, wage levels, and flexibility in working -
Michael Flynn's brother was present on a call discussing the military response to the Capitol siege, despite the Army denying it for days: WaPo
Supporters of President Donald Trump wear gas masks and military-style apparel as they walk around inside the Rotunda after breaching the US Capitol in Washington, DC, January 6, 2021.
Saul Loeb/Getty Images
The US Army falsely claimed that Michael Flynn's brother was not on a call discussing whether or not to dispatch the National Guard to the Capitol during the January 6 insurrection, The Washington Post reported Wednesday.
Lt. Gen. Charles Flynn, the Army's chief staff of operations, confirm -
New CDC Director Rochelle Walensky says that 'better, healthier days' are ahead and that agency will review all previous COVID-19 guidelines
President-elect Joe Biden has nominated Dr. Rochelle Walensky to head up the CDC.
Jim Watson/AFP via Getty Images
Dr. Rochelle Walensky, previously an HIV researcher at Harvard Medical School and Massachusetts General Hospital, is the Centers for Disease Control's new director.
With the national COVID-19 death toll surpassing 400,000 deaths, Walensky has acknowledged that rebuilding public trust and bolstering the vaccination plan will be top priorities.
The Trump administration often sidelined -
The Trump-appointed NSA general counsel installed the day before Biden took office is now on leave due to a Department of Defense probe
Michael Ellis was installed as the NSA's general counsel just the day before President Biden was sworn in.
Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images
The Trump-installed General Counsel of the National Security Agency has been put on administrative leave a day after starting the role, due to a Department of Defense inspector general probe, CNN reported.
Michael Ellis's installation just before President Joe Biden took office garnered criticism that the Tru -
China has imposed sanctions on Mike Pompeo, Alex Azar, and Steve Bannon, along with more than 2 dozen other former Trump officials
Former Trump administration members Steve Bannon, Alex Azar, and Mike Pompeo are among more than two dozen former officials who have been sanctioned by China following the end of Trump's term.
Getty Images
China announced it would be imposing sanctions on nearly 30 former members of the Trump administration.
Former Secretary of State Mike Pompeo, Trump operative Steve Bannon, and former Health and Human Services Secretary Alex Azar are among those who made the list.
In a statement, the foreign -
A 100-day moratorium on deportations starts on Friday, Biden administration announces
Protesters against deportations interrupt Joe Biden during a town hall on November 21, 2019 in Greenwood, South Carolina.
Sean Rayford/Getty Images
The Biden administration will be imposing a 100-day moratorium on most deportations beginning January 22.
The pause is "to ensure we have a fair and effective enforcement system."
The move was announced Wednesday night by US Department of Homeland Security.
Visit Business Insider's homepage for more stories.
The Biden administration will temporarily -
Corporate America is pausing its financial support for the 147 GOP lawmakers who challenged Biden's victory. Here are all the S&P 500 companies who gave them money - and then stopped.
Erin Schaff/Getty Images
S&P 500 companies gave $23 million to the 147 GOP lawmakers who contested Electoral College results.
After GOP efforts to overturn Biden's victory led to violence, some companies paused their support.
Here's a list of how much each corporate PAC had given and whether they've paused contributions.
Visit Business Insider's homepage for more stories.
On January 6, Congress convened a joint session to formally certify President Joseph Biden's Electoral College victory, b -
Proud Boys are ditching Trump hours after he left the White House for good, calling him a 'shill' and 'extraordinarily weak'
A member of the Proud Boys guards the front stage as another member of the proud boys gives a speech during a rally at Delta Park in Portland, Oregon, on June 26, 2020.
Stanton Sharpe/SOPA Images/LightRocket via Getty Images
The Proud Boys once staunch allies of Trump are now walking away from him calling him a "shill" and "extraordinarily weak," The New York Times reported.
The group is upset he didn't put up a bigger fight to stay in office.
They are also frustrated he hasn't help -
Trump reportedly granted Secret Service protections to all his adult children and 3 top officials before he left the White House. It will cost US taxpayers millions.
Outgoing US President Donald Trump waves as he boards Marine One at the White House in Washington, DC, on January 20, 2021
MANDEL NGAN/AFP via Getty Images
Former President Donald Trump granted extended Secret Service protections to his four adult children and their spouses before he left the White House, The Washington Post reported.
Former Chief of Staff Mark Meadows, former Treasury Secretary Steve Mnuchin, and former National Security Advisor Robert C. O'Brien will also receive the expensiv -
9 American greats Amanda Gorman referenced in her poem performed during Joe Biden's inauguration, from Maya Angelou to Barack Obama
American poet Amanda Gorman reads a poem during the 59th Presidential Inauguration at the US Capitol in Washington DC on January 20, 2021.
Patrick Semansky / POOL / AFP
Amanda Gorman paid homage to many American greats in her inaugural poem, "The Hill We Climb."
Gorman references the work of Maya Angelou, Martin Luther King Jr., Langston Hughes, and more.
The 22-year-old poet preformed her poem at Joe Biden's presidential inauguration on Jan. 20.
Visit Business Insider's homepage for more -
3 US soldiers killed after a Black Hawk helicopter crashes in New York
A UH-60 helicopter.
Daniel Brown/Business Insider
Three US soldiers were killed after an Army National Guard helicopter crashed in Mendon, New York, during a routine training mission in the evening, according to the state's National Guard.
The incident is under investigation.
Visit Business Insider's homepage for more stories.
Three US soldiers were killed after an Army National Guard helicopter crashed in Mendon, New York, during a routine training mission in the evening, according to the stat -
A billionaire New York hedge-fund CEO just dropped $20 million on a Miami Beach mansion as Wall Street firms plan moves to Florida
A Google Maps street view of Loeb's new Miami Beach home.
Google Maps
New York hedge-fund CEO Daniel Loeb just spent $20 million on a seven-bedroom waterfront home in Miami Beach, per The Real Deal.
Loeb is the billionaire founder and CEO of New York-based hedge fund Third Point, which manages $15 billion in assets.
South Florida has seen an influx of celebrities, executives, and financial firms like Elliott Management moving there during the pandemic.
Visit Business Insider's homepage for more -
Biden's White House press secretary Jen Psaki promises to bring 'transparency and truth' back to the briefing room
White House press secretary Jen Psaki.
REUTERS/Tom Brenner
White House press secretary Jen Psaki held the first press briefing of the new administration on Wednesday evening and pledged to bring "transparency and truth back to the briefing room."
"There will be moments when we disagree ... but we have a common goal, which is sharing accurate information with the American people," Psaki said.
Psaki announced during the 30-minute event that the administration will restore daily weekda -
Evangelical leaders praise Joe Biden's efforts on immigration reform
Joe Biden is sworn in as the 46th president of the United States by Chief Justice John Roberts as Jill Biden holds the Bible during the 59th Presidential Inauguration at the US Capitol in Washington, Wednesday, Jan. 20, 2021.
AP Photo/Andrew Harnik
Evangelical Christian leaders are applauding President Joe Biden's day-one efforts to fix "our nation's broken immigration system."
Biden has rescinded his predecessor's "Muslim ban" and moved to preserve protections for immigrants brought to the US -
Biden demands decency, promising staff members 'I will fire you on the spot' if they disrespect others
US President Joe Biden conducted a virtual swearing-in ceremony for members of his new administration at the White House via Zoom just hours after his inauguration on Wednesday.
Chip Somodevilla/Getty Images
President Joe Biden is demanding that his staff members treat others with dignity.
"I promise you I will fire you on the spot," he told those who might disrespect colleagues.
The comments were made during a swearing-in ceremony for hundreds of new staffers.
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How a participant in the Capitol riot allegedly stole Nancy Pelosi's laptop
The FBI used footage from ITV News, seen here, to track how Riley June Williams traveled through the Capitol to House Speaker Nancy Pelosi's office.
ITV News/YouTube
According to the DOJ, Riley Williams took a laptop from Nancy Pelosi's office during the Capitol riot.
Williams' former romantic partner told the FBI she had plans to sell it to Russia's equivalent of the CIA.
Her mother says she's been involved in far-right circles.
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The Departmen -
How Biden plans to fight the pandemic: 100 million shots, large-scale vaccination sites, and the reopening of K-8 schools
Joe Biden being sworn in as the 46th president of the United States by Chief Justice John Roberts.
Saul Loeb/Pool Photo via AP
President Joe Biden issued three coronavirus-related executive orders on his first day in office.
The orders aim to increase mask-wearing, accelerate vaccine distribution, and rejoin WHO.
Over 100 days, Biden plans to reopen most K-8 schools and administer at least 100 million shots.
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President Joe Biden took office Wed -
Senate confirms Biden's pick for spy chief hours after he's sworn into office
Avril Haines was the deputy director of the CIA during the Obama administration.
Win McNamee/Getty Images
The Senate confirmed Biden's nominee for director of national intelligence, Avril Haines.
Haines was the deputy CIA director and deputy national security advisor in the Obama administration.
She pledged during a confirmation hearing that she would keep politics out of intelligence.
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The Senate on Wednesday confirmed President Joe Biden's pi -
WeChat racks up $250 billion in transactions in 2020
Products worth almost $250 billion were sold last year through WeChat, the Chinese messaging app, more than double the year before. -
Tubi racked up viewership in 2020
Tubi, the streaming service owned by Fox, reported a sharp rise in viewership during 2020 and a near doubling of streaming hours; it now has 33 million monthly active users. -
P&G outlines shopper habits that will outlast COVID-19
Procter & Gamble, the consumer packaged goods manufacturer, believes that a variety of habits that have taken root during the COVID-19 pandemic will have long-term staying power. -
IPA Bellwether: UK marketing budgets continue falling, recovery expected in 2021
As expected, UK marketing budgets continued to decline into Q4 2020, though less sharply than in Q3, but with recovery on the horizon, marketers are echoing consumer sentiments of macro gloom while also being more positive about the prospects for... -
ByteDance taps e-commerce for growth with new e-wallet
TikTok owner ByteDance has launched a new payment tool as it expands its e-commerce business and takes on the two market leaders in China’s mobile payment sector. -
More Americans have now died from COVID-19 than the number of US troops killed during World War II
American reinforcements arriving on the beaches of Normandy from a Coast Guard landing barge into the surf on the French coast on June 23, 1944, during World War II.
US COAST GUARD/AP
The US military saw 405,399 deaths during World War II, according to the Department of Veterans Affairs.
The number of confirmed COVID-19 deaths has surpassed that grim milestone.
As of Wednesday, 405,400 American coronavirus deaths had been reported.
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The US has -
Borrowing from your 401(k) plan can be a fast, advantageous way to meet serious financial needs - here's everything you need to know about 401(k) loans
If you need funds quickly, a 401(k) loan offers several advantages over other loans or 401(k) plan withdrawals - but there are many rules to follow.
Jose Luis Pelaez Inc/Getty Images
Borrowing from a 401(k) means withdrawing funds from your plan that you later repay with interest.
A 401(k) loan avoids the taxes and penalties that come with outright withdrawals.
Borrowing from a 401(k) has drawbacks, like the suspension of contributions and overall loss of account growth.
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