A 401(k) plan is designed to provide people with a form of retirement income. Ideally, you routinely add money to your account and leave it untouched until retirement arrives. Unfortunately, life doesn't always work as planned. Sometimes events happen that require you to take an early withdrawal.
When preparing for retirement, you may want to consider annuities to supplement your other retirement products such as a 401(k). They offer long-term, consistent income, and some have tax benefits when the owner follows the withdrawal guidelines.
It's a topic most people don't want to discuss, but should. It's called a will. It can feel complicated, emotional, and it requires some hard decisions what happens to your assets when you pass away.