Before you dip into your retirement funds, make sure you consider the consequences of that choice. It can hurt you many times over and is definitely not worth it.
By taking money out of your fund, you’re negating all the hard work you’ve done in your savings goals. In addition, you’re preventing that money from being invested and the ability to earn interest. Eliminating compound interest possibilities.
It's important to mention that you'll also be penalized for an early withdrawal, and those penalties are usually pretty hefty. The large tax bill that you get hit with for the money you withdraw is brutal.
Because of all of these factors cashing out early should be your very last resort. #Finhacks #401k #EarlyWithdrawal
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