Avoid withdrawing money from your plan
You shouldn't think of your retirement plan as a bank account because it wasn't built to serve as a short-term savings vehicle. For example, any withdrawals you make from your retirement plan before age 59½ are subject to an additional 10% tax penalty above and beyond regular income taxes (does not apply to 457(b) plans).
Many employer-sponsored retirement plans do permit you to take a loan against your savings, but in most cases you are required to pay yourself back for this loan with interest. But whether you take out a loan or withdraw money early, you are drawing down your nest egg and working against yourself in your effort to build your retirement savings.
