What Are the Long-Term Implications of Using My 401(k) for Cancer Expenses?
Withdrawing or borrowing from your 401(k) can have significant long-term implications. You may lose out on potential investment growth and miss the benefits of compound interest, which can impact your retirement readiness. Itâs crucial to weigh these factors and consider other resources, such as health savings accounts (HSAs) or cancer-specific financial assistance programs, before tapping into your 401(k).
