4. Borrowing From Your Plan

The very essence of a retirement plan is to plan for your retirement. You must never ever, under any circumstance, borrow from your retirement fund. A retirement fund is like a contingency or emergency fund and the emergency here is retirement. You must not utilize this fund unless you are in dire need of money. If you keep on borrowing from your retirement fund, it will become a habit and a bad one that too. When you are young and dynamic, you can scrounge up money one way or another but in old age, digging for money is too painful. So, make it a point to steer clear of retirement fund till you are 65.