Hardship withdrawals
Hardship withdrawals are on the raise
The state of the economy has prompted some individuals to withdraw from their retirement savings accounts. In 2023, almost four percent of workers took hardship distributions from their 401Ks. Although most people think this is a short-term solution, it does…
Hardship withdrawals in 2022
According to the latest analysis by Fidelity Investments, Americans’ retirement nest eggs saw significant drops year-over-year. The savings rates did change, but not at the level Fidelity recommends. Javier Simon explains how economic turmoil may prevent many Americans from maximizing…