23% of Americans With Retirement Plans Make This Terrible Mistake

Sometimes in life, we run into situations where we need money and don't have an easy way of accessing it. So if you're sitting on a retirement plan like an IRA or 401(k) and have a pressing need for cash, you may be tempted to withdraw funds from your account or borrow money from it if possible. And that's precisely what 23% of U.

S. adults with retirement plans admit to doing in a recent Ameriprise study. But you should know that taking this type of loan or premature withdrawal has consequences -- consequences that might come back to haunt you in retirement.