OK, let’s get one thing straight: you shouldn’t raid your retirement accounts unless it’s an emergency. And ladies, let me just go ahead and define “emergency” because rest-assured some of you will convince yourselves that the beach trip to the Caymans or that ski trip to Aspen (you just had to escape your boss! had to get a tan! had to show-off your new fur-lined snow hat!) is an “emergency.” They are so not … Emergencies are things like keeping a roof over your head (and no, that roof need not be a swanky loft!), keeping food on the table (um hello, basic food, not your “food” allowance from those martini olives), paying for health care that your insurance doesn’t cover or other basic life needs.
So what happens if you have a real emergency and the only way to get money to help pay for it is from your retirement accounts? In that case, follow the information in this piece to tap into your retirement accounts responsibly. Click here to learn how to do it (my new piece for Smart Money).
