Tag: 401k loan
Maybe it‘s time to rethink adding a credit card to 401(k) accounts! Senators James Lankford (R-OK) and Michael Bennet (D-CO) introduced the Enhancing Emergency and Retirement Savings Act of 2021, which would allow 401(k) participants one penalty-free distribution of up to $1,000 each year to deal with financial emergencies. The rationale is that low-paid workers…
Leakages appear to reduce 401(k)/IRA balances at retirement by about one fifth. This blog is to sing the praises of data put out by Vanguard (How America Saves) in helping to understand what is happening in terms of leakages from 401(k)s plans and Individual Retirement Accounts (IRAs). The only way to end up at retirement…
