You are not alone if you've had to use your retirement savings for an immediate financial need. Data show more people are tapping into their 401(k)s and IRAs to handle financial emergencies.

OK, so what happens if I need the money, Lisa, and I dip into an IRA or a 401k? Lisa Greene-Lewis: If you withdraw from your IRA or 401k, and you're younger than 59 and 1/2, you will incur an ...

Are you going back to work after retiring? These are some of the financial strategies that can maximize your nest egg.

For many investors, 4% has traditionally been seen as the ideal retirement withdrawal rate ... which have led to reduced return expectations for stocks, bonds, and cash over the next 30 years.

A 10% tax penalty: You will owe a 10% penalty when you file your income tax return — or $1,000 on that $10,000 withdrawal. A 401(k) early withdrawal will cost you more than 30% of your ...

As a rule, however, 401(k) withdrawals of any kind should be avoided. Designed as long-term investment plans, they’re structured to discourage preretirement deductions. A withdrawal is almost ...

Early withdrawals from a 401(k) often incur a 10% early withdrawal ... balance will grow to $233,048 in 20 years if it earns an 8% annual return. If the balance is reduced to $40,000 and the ...

Generally, you should only make 401(k) withdrawals as you enter retirement, but there are certain situations in which you may do so earlier in life. Generally, withdrawing money from a 401(k ...

Steve Vernon, FSA, helps retirees make their money last for life. How much should you withdraw from your retirement savings in 2025 to help pay for your living expenses throughout the year?

Last year, "a record share of 401(k) account holders took early withdrawals from their accounts" to help cover "financial emergencies," The Wall Street Journal said in a report, citing internal ...