Retirees sometimes tap savings for one-off expenses. Here’s what advisors say to consider first

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Retirees facing a large expense that's not in their regular household budget may turn to their traditional 401(k) or individual retirement account balances to cover it. While retirement savings may be the easiest place to turn for the money, financial advisors say there are a few things worth considering before making one-off withdrawals. "Be aware of the fact that it's not as simple as just taking out the amount of money that [covers] what you want it for," said certified financial planner Victoria Trumbower, managing member of Trumbower Financial Advisors in Bethesda, Maryland. The firm ranked No. 19 on CNBC's Financial Advisor 100 list for 2026.