Momma Voke :redwave:🇺🇸 on Nostr: Hardship withdrawals from 401k retirement accounts hit a fresh record. Up 30% on the ...
Hardship withdrawals from 401k retirement accounts hit a fresh record. Up 30% on the year and tripling the pre-pandemic rate.
1 in 7 Americans now has a loan against their 401k. Nearly half borrowed to avoid foreclosure. With medical bills coming in #2.
With household debt also hitting a fresh record of nearly $150,000 while credit cards charge 24%, people are turning to the last pot of money they have left: Their retirement savings.
https://x.com/profstonge/status/1767527360532820145?s=46&t=BoQzQfLm3fqGo-6jc27fVA
1 in 7 Americans now has a loan against their 401k. Nearly half borrowed to avoid foreclosure. With medical bills coming in #2.
With household debt also hitting a fresh record of nearly $150,000 while credit cards charge 24%, people are turning to the last pot of money they have left: Their retirement savings.
https://x.com/profstonge/status/1767527360532820145?s=46&t=BoQzQfLm3fqGo-6jc27fVA