More workers are dipping into retirement funds to cover emergencies—but the long-term costs can be devastating ...
Early withdrawals from your 401(k) may ease today’s cash crunch, but taxes, penalties, and lost compound gains can cost you tens of thousands in the long run.
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401(k) Loan Interest Rate: Rules and Costs Explained
Borrowing from your 401(k) might sound appealing when you need quick cash. After all, the typical 401(k) loan interest rate is low — usually the prime rate plus 1%, and you’re essentially paying ...
401(k) hardship withdrawals more than double as people raid their retirement savings for emergencies
'Emergencies are always happening. Life has just gotten more expensive.' Hardship withdrawals - which can be taken only for "immediate and heavy financial needs" - have risen in recent years with the ...
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