40 of 65
BACKNEXT
Don Horton: 401(k) raided
Don Horton: 401(k) raided
Don with his daughter, Mariah, and wife, Michelle
Nuclear security officer, 37, Streator, Ill.

I lost my job in September 2007. I was putting into a 401(k) for the last couple of years prior to losing my job. I only had a little over $30,000 in my account.

Of course I had several credit cards, a house payment, utilities and two car loans. I didn't know what I was going to do. I decided to painfully cash out my 401(k) to survive. After the penalties, I walked away with just over $19,000.

I paid off several bills to alleviate some of the pressure, but the good thing is that I was only unemployed for 18 days before taking another job at $6 less an hour.

We are back living paycheck to paycheck but do have some savings -- not much, but enough to sustain us for a month if something else ever did happen. My goal is to get that up to at least six months.

NEXT: Jessica Jelinski: Collectors call daily
Last updated November 15 2009: 6:21 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
Public colleges with the best bang for your buck Graduates with bachelor's degrees from these state schools see the biggest return on their college investment, according to a report from PayScale. More
Cool cars from the 2015 Geneva Motor Show These are some of the stand-out cars and trucks on display at the 2015 Geneva Motor Show. More
Yahoo: 20 years of hits and flops The company that once was Google turns 20. We look back at the many, many brands it has cycled through. Remember Geocities? Broadcast.com? More

Special Offer