Retirement
401(k) Loans and Hardship Withdrawals: Rules, Costs and Risks
A 401(k) can sometimes be tapped before retirement through a plan loan or a hardship withdrawal, but the two work very differently. This explainer covers how each is set up, how repayment and taxes work, what happens if you leave your job, and the long-term costs of pulling money out of a tax-advantaged account.