Can You Take Money Out Of A Retirement Plan?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Taking money from your qualified retirement plans should be a last resort, as this is money set aside for your golden years. That being said, most plans permit plan participants to borrow money from their account with a relatively low interest rate. Most plans require a pay back schedule, which in many cases, restricts transfers to other plans until the loan is repaid.

   Answered on August 1, 2013

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