Hardship Withdrawals from 401(k) Plans Rise In Warning Sign of Financial Distress
By Tom Ozimek A sharp rise in the number of Americans pulling money out from their 401(k) accounts is the latest sign that the U.S. consumer may be starting to buckle as the pandemic-era jump in excess savings continues to be depleted and people are relying more and more on high-interest credit cards and retirement nest eggs to prop up spending. A new report from Bank of America (BofA) shows that…
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