We looked at some basic 401(k) questions last week, which is fun for the number crunchers out there.

But this week, I wanted to share some more philosophical questions from readers. How often, after all, do we get to talk philosophy on the business pages?

You may recall a question last week from a reader named David, who wants to take money out of his 401(k) in order to pay down his mortgage. Beyond his basic question, David expressed frustration that the 401(k) money is not easily available to help him take care of his needs.

"What is the reason/rationale for the penalties and taxes on withdrawing money prior to retirement?" David asked.

"Do you think with the state of the economy that I will ever be able to access my $60,000 and roll into my mortgage without losing half of my investment to taxes and penalties?"

Another reader, Vanessa, asked a question that may not seem similar, but gets to the same philosophical point. She said she and her husband are trying to decide whether to shift their 401(k) money from a preset mix that is stock-heavy to one that is more bond-based.

"We have about $250,000 with a $43,000 loss last quarter, probably losing about $90,000 total over the last year or more, after steady increases," Vanessa wrote. "My husband will retire at the end of 2010 with an excellent pension. I will work for at least five more years, so we will not actually need the thrift plan income (we hope) for a while. We have no debt or dependents and quite a bit of savings.

"I watch a lot of financial advisers on TV — (some) say to get out of the stock market now; on the other hand, (others) say getting out now just locks in your losses and now is an excellent time to buy shares at a low price. Given our age, should we play it safer, and cut our losses? Or should we try to ride it out?"

For some philosophical musings, I again contacted Jeff Salisbury, principal at Independent 401(k) Advisors, a fee-only advisory firm with offices in Cache and Davis counties.

Jeff says he understands David's frustration, but there are reasons for the penalties associated with early withdrawals from a 401(k).

"These plans have such enormous tax benefits to the participants," Jeff says. "In one sense, the government is saying, 'We're going to give up the tax revenue that we're entitled to, and in return for that, we're going to exact some heavy penalties if you violate the rules.' "

In other words, the benefits are big, so the penalties are, too.

However, Jeff says people like David, who is early in his career, and Vanessa, who will not need to access her 401(k) for quite some time, should try not to be scared by today's market.