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Don't use your 401(k) as a piggy bank

Name: Don't use your 401(k) as a piggy bank
Uploaded: 2014-06-30T05:45:00-0400
Duration: 1 min 14 s
Description: Many Americans feel they can use their 401(k) as a source for extra cash, but there are a lot of fees and penalties for withdrawing money early. CBS MoneyWatch contributor Ray Martin shares the best way to tap into your retirement savings if you really need to.

Many Americans feel they can use their 401(k) as a source for extra cash, but there are a lot of fees and penalties for withdrawing money early. CBS MoneyWatch contributor Ray Martin shares the best way to tap into your retirement savings if you really need to.