Withdrawing funds from a 401K can be incredibly expensive. Between taxes, fees and other penalties, you could wind up paying almost half of your retirement savings. Although the best financial move is to leave the funds in your 401K alone, advises CNBC personal finance expert Carmen Wong Ulrich, if you need this money to pay your bills as the result of a job loss or illness, there may be a way to avoid some of these charges. Ask your plan administrator if you're eligible for a hardship withdrawal. Watch as Carmen Wong Ulrich explains.

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