The bills are piling up and you don’t know where you’ll ever find the money to pay them all. Meanwhile, you’ve got $5,000, $10,000, or even more sitting in your 401k plan. Retirement seems so far away and you could really use that money now. What’s the harm in taking some or all the money out of your 401k and using it to pay off debts? According to most financial experts, plenty. Here are a few reasons why.

1. 401k money is safe from creditors. If you file for bankruptcy, you’re often forced to liquidate your assets. Not so with your 401k.

2. You’ll pay income taxes on the entire amount. How bad could this be? If you’re under the age of 59 ½, it could add up to a lot. On top of taxes, you’ll pay another 10 percent for early withdrawal penalty. If you withdraw that $20,000 from your 401k, you’ll end up with about $13,000 if you’re in the 25 percent tax bracket. Poof! Over a third of your money gone.

3. You won’t have money for retirement. Seems obvious, but think about it. You’ll get through whatever financial problem you’re facing, but retirement is coming around the bend and there are too many stories about retirees scraping by to make ends meet. At this point, there’s no guarantee social security will be around as a safety net, either.

What to do instead. Definitely seek the advice of a credit counselor. You might be able to take a loan from your 401k, but you’ll have to pay yourself back, with interest. If you leave your job, you’ll have between 30 and 90 days to pay off the loan entirely, or you’ll be responsible for, you guessed it, paying the taxes and penalty on the money.