More Americans Raid Their 401(k)s to Pay Bills

http://www.cnbc.com/id/100384316

When Amy Shankland's husband, John, was laid off from his job, they tapped into their IRAs to get by. With credit card debt, big medical expenses, and two young sons, the Shanklands had few options.
"We didn't know what to do. It was either bankruptcy or cash in our IRAs," Amy Shankland told NBC News.
The Shanklands are not alone. Americans are borrowing against their 401(k) to pay for non-retirement needs such as mortgages, credit card debt or college tuition, according to a new studyfrom financial advisory firm HelloWallet. That amounts for more than $70 billion in annual withdrawals.