Ask the Dolans: Is a 401(k) withdrawal an option to make ends meet?

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Click here to ask Ken and Daria your question.

Times are tough -- we know we don't need to tell you that twice. With the down economy squeezing everyone's wallets, many folks are tempted to turn to their 401(k) plan for a loan. In fact, a record number have already dipped into their retirement funds to cover their current bills. Withdrawing from your 401(k) may seem like the perfect answer -- but is it? Let's take a look at your options.

Dear Ken and Daria,

My husband and I both work in the housing market and have been hit hard. Is a 401(k) hardship withdrawal a good option?

-Annette



Looking for a realistic debt management plan? Ken and Daria have the tools you need to successfully pay off your bills, only at Dolans.com.

Increase your money and finance knowledge from home

Intro to Retirement

Get started early planning for your long term future.

View Course »

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

Add a Comment

*0 / 3000 Character Maximum