401(k) plansare designed to help you save for retirement. Therefore, the IRS discourages withdrawals from401(k) plansuntil you turn 59 ½. If you are trying to withdraw early from your 401(k) – before you reach the magical age –you will have to pay a steep price for it if you ...
Withdrawing vs. Borrowing From 401(k) to Pay Credit Card Debtdoi:urn:uuid:e815cb357824e310VgnVCM100000d7c1a8c0RCRDWhen downsizing or job loss makes credit card debt unbearable, the 401(k) money looks tempting. But whether you take it or borrow against it, know the consequence...