EBU033-The Trap Door in Your 401(k): Hardship Withdrawals & Early Distribution Penalties
When financial stress hits, tapping your 401(k) can seem like an easy solution. But is it?
Ryanne Harmann from Acropolis breaks down the hidden costs of hardship withdrawals, including taxes, penalties, and the long-term impact on your retirement savings. Using real-world examples, she explains why a withdrawal may leave you with far less than expected—and why the true cost can extend well beyond today.
You'll also learn:
What qualifies as a hardship withdrawal
How taxes and penalties can reduce the amount you receive
When a 401(k) loan may be a better alternative
Other resources and options to explore before dipping into retirement savings
Why protecting your future self matters
Whether you're facing a financial challenge now or simply want to be prepared, this episode will help you make more informed decisions about your retirement dollars.
Additional Resources:
PAS – Financial Coaching Services
Budgeting 101 – Acropolis On-Demand Workshop (tiny.cc/ebu_Budgeting101Workshop)
Disclaimer: This podcast script is for educational and entertainment purposes only and does not constitute financial, tax, or legal advice. Listeners should consult a qualified financial advisor or tax professional for guidance specific to their situation.
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------ Music Credit: "Cheery Monday" - Kevin MacLeod (incompetech.com (http://incompetech.com/)) Licensed under Creative Commons: By Attribution 3.0 http://creativecommons.org/licenses/by/3.0/
24 Feb 2026
LifeEventDocumentation.pdf
7 Jul 2025
EBU032-Avoiding the Pitfalls of 401(k) Loans
Ryanne Harmann, QKC, QKA, discusses the potential downsides of 401(k) loans, including double taxation and long-term impact on retirement savings, in this interview episode.
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