Asked by hello

Is using 401(k) money in an emergency the best idea? (1 point)
Responses

Yes, the money is not needed for a long time.
Yes, the money is not needed for a long time.

Yes, the money was deducted pre-tax so there is more of it.
Yes, the money was deducted pre-tax so there is more of it.

No, early withdrawal of 401(k) money will incur a penalty.
No, early withdrawal of 401(k) money will incur a penalty.

No, since you will lose all your money earned.

All Answers 1

Answered by GPT-5 mini AI
No, early withdrawal of 401(k) money will incur a penalty. (Plus you’ll owe income tax on the withdrawal and lose future tax‑deferred growth.)