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The Long-Range Impact of Short-Term Decisions Re Retirement Funds
As the COVID-19 pandemic continues to cause havoc in day-to-day financial struggles for many, a short-term option for folks struggling to strive financially is to look to retirement savings as a stopgap solution. Unfortunately taking advantage of that option, while providing immediate relief, has substantial long-term implications that won’t be felt for years or perhaps decades. Financial journalist Kaily Hagen, in a post on kenoshanews.com. explains the concern associated with a recent Transamerica survey finding that “….one in three millennials have already taken a loan or a withdrawal from their retirement account or plan.” Read her post here…
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