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    ble income for the year, and pay income taxes on that amount.

    A much better option is to BORROW th

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    Many people who are facing foreclosure or another financial setback wish they could tap some of the funds in their IRA, 401(k), or other retirement account. However, the penalties for doing so can be prohibitive. You will lose a big chunk of the withdrawal to taxes and penalties; not only will you be penalized 10% of the money you withdraw, but you will also have to report the full amount of the withdrawal as taxable income for the year, and pay income taxes on that amount.

    A much better option is to BORROW the

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    s in their IRA, 401(k), or other retirement account. However, the penalties for doing so can be prohibitive. You will lose a big chunk of the withdrawal to taxes and penalties; not only will you be penalized 10% of the money you withdraw, but you will also have to report the full amount of the withdrawal as taxable income for the year, and pay income taxes on that amount.

    A much better option is to BORROW th

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    ive. You will lose a big chunk of the withdrawal to taxes and penalties; not only will you be penalized 10% of the money you withdraw, but you will also have to report the full amount of the withdrawal as taxable income for the year, and pay income taxes on that amount.

    A much better option is to BORROW th

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    10% of the money you withdraw, but you will also have to report the full amount of the withdrawal as taxable income for the year, and pay income taxes on that amount.

    A much better option is to BORROW th

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    ble income for the year, and pay income taxes on that amount.

    A much better option is to BORROW the money from your retirement plan, rather than take it as a disbursement. If you are able to borrow the money, 100% of the payments AND interest go back to your plan, with no taxes or penalties paid on the money! As long as you have a job, you can likely get a loan from your employer's 401(k) plan. Contact your plan administrator for information on how. If you leave or lose your job, you can no longer keep the lo

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