Money School

Today’s Money: Withdrawing from a 401(k)

Posted by Jean

In times of financial trouble, do you ever look at your 401(k) and think, “ah, maybe if I just withdrew a little bit now, it could help me out?” If so, you’re not alone. However, as I told Hoda and Meredith Viera this morning, it’s not such a great idea to take a hardship withdrawal or to cash out before you hit retirement age. To find out why, check out our discussion in the video clip below.

 

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