[More] “Americans Are Dipping Into Their Retirement Funds”
March 27, 2025
“More Americans than ever are dipping into their retirement prematurely, and experts warn it could have serious consequences on their finances later in life.
A study by Vanguard that examined data from nearly 5 million people with retirement accounts, found a record 4.8 percent of account holders took hardship withdrawals from their 401(k) accounts in 2024, up from 3.6 percent in 2023. Hardship withdrawals allow savers to access their retirement funds early in cases of an urgent and significant financial need, but they are generally considered a last resort…”
https://www.newsweek.com/americans-are-dipping-retirement-funds-2050036