By Lynne Adkins

DOWNINGTOWN, Pa. (CBS) — A new national study shows that too many of us are cashing out 401(k) accounts to pay bills. If that retirement account is calling your name, a financial expert advises you to stop listening.

READ MORE: Brotherly Love: Zummo Bike Donating Refurbished Bikes To Montgomery County Kids For Seven Years Strong

When the bills pile up and money is tight, many people turn to their 401(k) accounts to help ease the bind.

Downingtown, Pa. CPA Jacquelyn Basso says it’s not a good idea to raid your retirement; you’re getting money now that you’ll need to live on when you’re older.

READ MORE: Only Part Of MLK Drive Will Reopen To Vehicles On Wednesday Due To Bridge Repairs

MUST SEE VIDEO: Couple Steals 2 Police Cars; Leads Cops On Wild Chase

“You can borrow from your 401(k) and pay back yourself and maybe not incur a penalty. But if you lose your job or leave your job, you have to pay it all back and if you can’t pay it back, you’ll be subject to the penalties and the taxes,” Basso explained.

READ: Strip Bar Sued After Patron Dies In I-95 Crash

MORE NEWS: Upper Merion School District: Teachers, Staff Must Be Vaccinated Against COVID-19 Or Routinely Get Tested

She says if you’re thinking of taking cash out of your 401(k), remember you’ll have to pay a 10-percent penalty and income taxes now, so you actually lose some of your savings paying those off.