Todd Smith over at The Digerati Life wrote an article that talks candidly about the dangers of withdrawing money from your retirement fund during times of need.

Whether it’s the hefty taxes and penalties involved or the idea that you’re basically adding more years of working onto your life, there are plenty of reasons to only do this as a last resort.If you have no choice but to make the withdrawal, Smith encourages you to do it sparingly with enough to cover only your emergency costs. And be sure to remember to calculate any taxes you’ll owe.

Have you had to dip into your retirement fund? When do you let yourself do this? Or do you only allow yourself to pull from your Ally Bank Savings Account fund to get through tough times?