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Retirement Savers Avoiding CARES Act IRA Provision
Despite its recognition as a financial bail-out option during the COVID-19 pandemic’s economic devastation, it appears that many savers are electing to avoid that tempting course. In fact, as noted in a statesville.com post by The Motley Fool’s Maurie Backman, ” … only 1.9% of savers took a retirement plan withdrawal through the CARES Act through May 31.” While it’s a tough but attractive alternative, most savers appear to understand fully the implications such a move would have on their long-term retirement security. For a deeper analysis of the issue, check out Ms. Backman’s post here…
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