The Best Retirement Advice From Dave Ramsey
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The Best Retirement Advice From Dave Ramsey
Dec 2, 2024
MSN24/7 Wall St.
Your 401(k) is for retirement, not for emergencies, getting rid of debt or going on vacation. When you turn to your 401(k) for help now, you’re putting your retirement future at risk. The only time you should withdraw money from or cash out your 401(k) is to avoid bankruptcy or foreclosure—and that’s only if you’ve exhausted all other options, like taking on extra jobs and a short sale on your house. And while a 401(k) loan might seem to solve some of your problems right now, it creates a whole
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Your 401(k) is for retirement, not for emergencies, getting rid of debt or going on vacation. When you turn to your 401(k) for help now, you’re putting your retirement future at risk. The only time you should withdraw money from or cash out your 401(k) is to avoid bankruptcy or foreclosure—and that’s only if you’ve exhausted all other options, like taking on extra jobs and a short sale on your house. And while a 401(k) loan might seem to solve some of your problems right now, it creates a whole
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