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What can happen when you use your 401-K as a piggy bank

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ST. LOUIS, MO (KTVI) -  According to the IRS, Americans withdrew $57 billion dollars from their 401-K plans in 2011, before they were supposed to. That translates to $5.7 billion dollars paid in penalties for accessing that money.

Matt Allgeyer, a financial planner at Wamhoff Financial Planning and Accounting Services, discusses the downfalls of using your 401-K as a piggy bank.