The funds you stash in your 401(k) plan are intended for your future retirement. But sometimes life throws you a curveball, and you need money fast. In those cases, you may be able to tap into your ...

Early withdrawals are generally subject to a 10% penalty, in addition to normal income taxes. But there are lots of exceptions—including some new ones. Here’s the latest. One source Americans consider ...

For most Americans, saving for retirement means opening an employer-sponsored 401(k) plan and contributing to it regularly. Ideally, those contributions will continue for decades, with no need to tap ...

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In the past years, the SECURE Acts have expanded the hardship distribution rules to allow plan participants to take hardship withdrawals for multiple reasons. Additionally, the SECURE Act 2.0 provided ...

According to Vanguard, hardship distributions are up and that’s not a good sign. The number of hardship withdrawals per 1,000 savers soared about 40% in 20023 and has doubled since 2021. The main ...

During challenging financial times, people often consider withdrawing money from their 401(k) plans. Balances in 401(k) plans are deceiving. They are not like checking accounts where what you see is ...

A thrift savings plan (TSP) hardship withdrawal allows federal employees and members of the uniformed services to access their retirement funds in times of severe financial need. To qualify, ...