Refrain from Tapping Your Retirement Funds
Submitted by Ferguson Financial Inc. on November 6th, 2017
Resist the temptation. Your future self will thank you.
Retirement accounts are not bank accounts. Nor should they be treated as such. When retirement funds are drawn down, they impede the progress of retirement planning, even if the money is later restored.
In a financial crush, a retirement account may seem like a great source of funds. It is often much larger than a savings account; it is technically not a liquid asset, but it can easily be mistaken for one.