Hardship withdrawals from 401k retirement accounts hit a fresh record. Up 30% on the year and tripling the pre-pandemic rate

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… pic.twitter.com/oSqZLDEBNG

— Peter St Onge, Ph.D. (@profstonge) March 12, 2024