When Layoffs Loom, Decisions On 401(k) Plans Become Crucial
Washington Post (12/02/01) p.10H; Hinden, Stan

Workers who lose their jobs need to know what to do with the money they have saved in their 401(k) plans, writes Stan Hinden for the Washington Post. For people who are suddenly laid off, financial advisers say they should resist tapping into their 401(k) savings to pay bills. In this scenario, advisers recommend that people first look into taking out a home-equity loan or borrowing against their life insurance to pay bills.

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