When is it OK to tap the 401(k) - Detroit Free Press

by Susan Tompor

I heard from a family the other day that wondered about taking a loan out of the 401(k) -- or maybe a hardship withdrawal.

Did somebody lose a job? Was it hard to pay the mortgage? The car note?

No. The mom told me the son needed braces that would cost about $5,000.

Bad idea? Not necessarily.

Click here to view entire article.