401(k) "Hardship" Withdrawals Hit Record High | Personal Finance
In this video, I'll discuss retirement savers who withdrew money from a 401(k) plan to cover financial hardships. Learn why 401(k) "hardship" withdrawals hit record high | personal finance
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401(k) ‘hardship’ withdrawals hit record high, Vanguard says — another sign households feel the pinch of inflation.
The share of retirement savers who withdrew money from a 401(k) plan to cover a financial hardship hit a record high in October, according to data from Vanguard Group.
That dynamic — when coupled with other factors like fast-rising credit card balances and a declining personal savings rate — suggests households are having a tougher time making ends meet amid persistently high inflation and need ready cash, according to financial experts.
Click here to read article - https://www.cnbc.com/2022/12/08/401k-hardship-withdrawals-hit-all-time-high-vanguard-says.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Mail
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