Vanguard recently released its 2025 report on how America saves. It revealed a record 4.8% of 401(k) holders took a hardship ...

Before you can withdraw money from your 401 (k) for a hardship, you must meet your employer’s eligibility requirements and ...

Understand the consequences of withdrawing money from a 401(k) or IRA retirement account for emergencies and create a plan to ...

Today, the median 401 (k) balance for top-decile earners is about 10 times that of middle-income participants. Indeed, plan participation, balance amounts, and investment outcomes remain skewed toward ...

The financial services firm’s guidance takes a different path than the traditional 4%-a-year strategy. Researchers compare ...

A 401 (k) hardship loan allows you to borrow money from your own retirement savings, with interest, and repay it over a specific period. Whether you can borrow from your 401 (k) depends on your ...

Home Retirement Retirement Plans 401k Think Twice Before You Tap Your 401 (k) Early Penalty-free distributions have become more accessible, but they can be detrimental to your retirement security.

Paley says withdrawing 401 (k) funds early means withdrawing before the age of 59½, which is the minimum age to withdraw to avoid paying penalties and additional tax liabilities.

Spokane man pulled $400K from his 401 (k) for a house, aiming to be debt-free, but now he owes $140K to the IRS. Big lesson: Know the tax rules before tapping your 401 (k).

However, if you withdraw money from a 401 (k) before the plan’s normal retirement age or from an IRA before turning 59 ½, you’ll pay an additional 10 percent in income tax as a penalty. But ...