Americans are pulling money out of their 401(k) plans at an alarming rate
Posted By Peter Coyne | 2023-08-17 03:57:08
More Americans are tapping their 401(k) accounts because of financial distress.
- The number of people who made a hardship withdrawal during the second quarter surged 36% from the second quarter of 2022.
- It’s a “pretty troubling” development if more people are resorting to making hardship withdrawals, saysMatt Schulz, chief credit analyst at LendingTree.
