Social advantages

401(k) 'hardship' withdrawals hit record high, Vanguard says — another sign households are feeling the pinch of inflation

401(k) ‘hardship’ withdrawals hit record high, Vanguard says — another sign households are feeling the pinch of inflation

Thomas Barwick | Stone | Getty Images The share of retirement savers who withdrew money from a 401(k) plan to cover financial hardship hit a record high in October, according to data from the Vanguard Group. This dynamic – when combined with other factors such as rapidly rising credit card balances and falling personal savings …

401(k) ‘hardship’ withdrawals hit record high, Vanguard says — another sign households are feeling the pinch of inflation Read More »

Not having an emergency fund can lead to one of the biggest financial mistakes, says Suze Orman.  How Congress can help

Not having an emergency fund can lead to one of the biggest financial mistakes, says Suze Orman. How Congress can help

Suze Orman speaks during AOL’s BUILD Speaker Series at AOL Studios in New York City. jenny anderson | WireImage | Getty Images If your car breaks down or you have an unexpected medical bill, it can be difficult to find the money to cover expenses. In a pinch, it can be tempting to withdraw money …

Not having an emergency fund can lead to one of the biggest financial mistakes, says Suze Orman. How Congress can help Read More »

For retirement system changes proposed to Congress via 'Secure 2.0', December is do-or-die time

For retirement system changes proposed to Congress via ‘Secure 2.0’, December is do-or-die time

Samuel Corum | Getty Images News | Getty Images For supporters of Congressional proposals aimed at improving the American retirement system, these few weeks promise to be difficult. Lawmakers return to Washington next week to complete the so-called lame session – the legislative period between the midterm elections and the new Congress, which begins Jan. …

For retirement system changes proposed to Congress via ‘Secure 2.0’, December is do-or-die time Read More »