What's the cost of withdrawing early from your 401(k)?

Name: What's the cost of withdrawing early from your 401(k)?
Uploaded: 2024-03-19T22:17:00-0500
Duration: 2 min 56 s
Description: Tough times are forcing many Americans to dip into their retirement funds at a cost they might not expect. Investment advisor Vanguard reports that 3.6% of workers took a hardship withdrawal from their 401(k) last year. We wanted to know: What's the cost of withdrawing early from your 401(k)? And what other options should you consider first?

Tough times are forcing many Americans to dip into their retirement funds at a cost they might not expect. Investment advisor Vanguard reports that 3.6% of workers took a hardship withdrawal from their 401(k) last year. We wanted to know: What's the cost of withdrawing early from your 401(k)? And what other options should you consider first?