I know it’s hard. I know you’re desperate. You’re stressed and losing sleep. Things are tough. You have to do something, and soon. But whatever you do, don’t touch your retirement account. Don’t borrow against it. Don’t withdraw from it. Just leave it alone.
What’s so bad about liquidating a retirement account? Here are five reasons you’ll quickly regret doing that:
Your retirement account, even during times when it appears to be losing value, is money you are going to need after you reach retirement age. And I can guarantee you are going to need it much more then than you do now. If you bleed it dry now, you stop the momentum—the pace at which it is growing. Think of your retirement account as completely out of your reach for now.