As millions of people continue to file for unemployment amid the coronavirus pandemic, some are considering removing money from their 401K.

Financial expert at Texas Regional Bobby Farris says removing money a 401k should be the last option.

Farris explains there is a 10% plus paid during income tax penalty for removing money from a 401K account.

The 10% penalty is waived only for those who qualify for coronavirus relief under the Cares Act, Farris explained.

For more information watch the video above.