Cavan Images / Getty Images A 401(k) hardship withdrawal can only cover "an immediate and urgent financial need" that can't be met from other sources. Check with your 401(k) plan administrator ...

If you're looking for resources to get through a difficult financial situation, you may have considered taking money out of your 401(k) plan. There are several circumstances when current employees ...

A 401(k) hardship withdrawal allows you to access funds from your retirement account before you reach retirement age, but it comes with strict rules, tax implications, and potential penalties.

hardship loan or using a 401(k) hardship withdrawal to help fund some of those expenses. However, it's important to note that before turning to a 401(k) loan, you should exhaust all your other ...

During the last 12 months, 401(k) hardship withdrawals rose by 24%, according to a 2022 study by Empower, a large retirement plan administrator. The funds were used to cover unexpected financial ...

That does not come with the same penalty as a hardship withdrawal. It does slow your retirement savings though, so you want to make sure that you repay it quickly. The second option is actually a ...

You permanently reduce your retirement savings by the amount of the withdrawal as well as any future earnings you would have accrued on that money. But, before you do a hardship withdrawal or a ...