“Short on Cash, More Americans Tap 401(k) Savings for Emergencies”
February 2, 2023
“Squeezed by higher prices and short on cash, more Americans are tapping their 401(k)s for financial emergencies.
A record 2.8% of the five million people in 401(k) plans run by Vanguard Group tapped their retirement savings in 2022 to cope with hardships such as medical bills, eviction or foreclosure, the company said. That is up from 2.1% in 2021 and a prepandemic average of about 2%…”
Good. In my opinion they should take ALL their money out. Don’t put your money in a 401k. It’s not going to be there when you retire. It’s not going to be there or if it is it will be extremely devalued. Governments around the world have to much debt in general and are unable to pay it back.