Saving for retirement is tough enough. You’ve got to earn a living, sock a portion away on payday, invest it wisely, and emotionally weather the periodic market sell-offs. However, life’s surprises shall come your way – job loss or change, a major medical bill, education costs and others – and may cause (or tempt) you to tap your retirement savings early. The purpose of this article is to discourage you from creating pre-retirement leakage from your 401(k) and IRA account balances which can cost you up to 25 percent.
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