Life happens, and sometimes financial emergencies hit when you least expect them. If you’re facing a major expense — like unexpected medical bills, the threat of foreclosure or funeral costs for a ...

A thrift savings plan (TSP) hardship withdrawal allows federal employees and members of the uniformed services to access their retirement funds in times of severe financial need. To qualify, ...

Once you reach 59 1/2, you won’t have to pay the 10% penalty. However, withdrawals from a traditional 401 (k) will still be ...

Money coaches tell you how to move past the stigma and decide if tapping your retirement fund is rational or reactive.

Faced with rising household costs, many Americans are turning to their retirement accounts to save their homes from foreclosure. According to a recent report from Vanguard, 3.6% of American retirement ...

Record withdrawals: In 2025, 6% of Vanguard 401(k) participants took hardship withdrawals, the highest rate on record. Drivers of trend: Rising costs, high debt, and eased access rules are prompting ...

The funds you stash in your 401(k) plan are intended for your future retirement. But sometimes life throws you a curveball, and you need money fast. In those cases, you may be able to tap into your ...

When taking a hardship withdrawal, the funds will be subject to income tax, and you may also need to pay a 10% early ...

A record number of Americans tapped into their 401(k) retirement savings for hardship withdrawals last year due to financial challenges, new data shows. Vanguard Group reported that 6% of participants ...

The median 401(k) balance, a better gauge of the typical saver than the average, hit $44,115, up 16% in a single year. Credit ...