It’s tempting to look at that 401k plan you amassed over the years at your last employer as nice cash cushion while you get back on your feet and figure out what to do.
This means that you don't get a lot out of what you take out of your account.
Check your browser, slow your clicking, and you probably won't ever have to do this again.
The 10-year average rate of return for the S&P 500 Index was 5.39% annually as of August 2016.
Unless you are age 55 or older, you will also need to pay a 10 percent early distribution penalty.
Worse yet, this additional 10 percent is calculated based on the entire withdrawal – not just what you receive after taxes.