Today over 25% of people who have a 401K retirement savings plan have borrowed from these funds. In fact, 401K loans have surged by 37% in just 8 years and in 2011 represented nearly 60 billion dollars in premature withdrawals, according to IRS figures. This practice has personal finance experts and retirement specialists worried. Why? you may wonder. With a 401K loan aren’t you borrowing from yourself and paying yourself back with interest? That’s true, of course, but taking a 401K loan could cost you thousands in retirement savings. This reports shows you six reasons why taking a 401K loan should be a last resort.