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Tapping Your Retirement Account for Other Financial Needs Can Have Costly Consequences According to a December 13, 2022, article in The New York Times, hardship withdrawals from workplace retirement accounts are rising — “another sign, along with rising credit card debt, that many Americans have been feeling financial pain from inflation.” At some point, most people find themselves in a situation where they need access to cash quickly. If that happens to you, you may think about taking money out of your retirement plan account through either a loan or distribution. While those are both...