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Should I withdraw from my profit-sharing plan or my 401(k) to avoid going into debt?

I recently lost my job and unemployment will be $275 per week. I have bills to pay and cannot afford them with this amount. Should I withdraw from my profit-sharing plan or my 401(k) to avoid going into debt?

Debt, 401(k)
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September 2018

This is exactly the reason why we hammer on clients to build and maintain an emergency fund. Taking money out of your 401(k) should always be a very last resort because not only do you have to pay ordinary income tax on the proceeds, but you're also liable for a 10% penalty for the premature distribution. With that said, if this is literally the only option you have to avoid racking up credit card debt or getting yourself in further trouble financially, then taking money out of your 401(k) is the way to go. If you can prove these funds are preventing you from being evicted from your apartment, then you may be able to qualify for a hardship withdrawal which would waive the 10% penalty, but there are no guarantees on that one. I hope you can find work and right this ship quickly!

September 2018