Ask the Dolans: Is a 401(k) withdrawal an option to make ends meet?

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Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Click here to ask Ken and Daria your question.

Times are tough -- we know we don't need to tell you that twice. With the down economy squeezing everyone's wallets, many folks are tempted to turn to their 401(k) plan for a loan. In fact, a record number have already dipped into their retirement funds to cover their current bills. Withdrawing from your 401(k) may seem like the perfect answer -- but is it? Let's take a look at your options.

Dear Ken and Daria,

My husband and I both work in the housing market and have been hit hard. Is a 401(k) hardship withdrawal a good option?


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