Debunking 401k Theory  Step Brothers  If you have a 401(k)
retirement savings plan and you’re like the rest of working
Americans, it’s highly likely that you don’t plan on touching
that money until well, retirement. With social security
increasingly becoming an unreliable source of income for many
people, the younger generation is putting a lot of stock in
their 401(k) savings.  Television gurus like Suze Orman and Jean
Chatzky all preach the message that it’s a heinous crime to
withdraw money early from your 401(k). But what if Suze Orman is
wrong? Can it actually be smarter to cash in some of your
retirement well before you will ever retire? If you have
consumer debt, the answer is….yes!  How 401(k) plans work  Let’s
quickly review how employer-sponsored 401(k) plans work.
Employees are given the opportunity to elect to have a portion
(usually no more than fifteen percent) of their pre-tax wages
set aside in an investment account. In short, you get the
benefit of saving money while deferring taxes.  General