Tempted to pull money from your 401(k)? Consider these other strategies first.

[sweeps]

Tough times, tough measures

- Bring lunch
- Two wages are better than one
- Return to retailer
- Don't shop until you drop
- Keep on contributing
- Retirement accounts aren't rainy-day funds
- Delay retirement
- Delay Social Security
- Worst case

[Broken Arrow]

These are drastic measures?

[cicy33]

sorry but not one of those make sense to me in regards to this subject. If I am going to withdraw from my 401K it would be for a very good reason. regular bills and living is not one of them.

[sweeps]

Unfortunately a lot of people do pull money from their 401k before taking these (not-so-drastic) measures.

[cicy33]

That is said but there are only a couple of ways other than retirement or quitting your job that you are allowed to take some. one is a loan you pay back with your paycheck and the other is a hardship draw. Hopefully most people use it wisely if they must draw on it.

[rob62521]

I know most of us would already have considered taking our lunch, but I think we are a rarity. One friend of mine is in deep debt and she said she was tired of people giving her advice of taking her lunch, not buying coffee out, and eating at home and said these things don't cost much. She never stopped to add these items up. And, I don't think she's alone.

Another guy I know who was forced to resign is taking money out of his 403b to pay down his bills as he accepts a job paying much less.