Advisors Warn Against Dipping Into 401(k)s

The American College of Financial Services
InvestmentNews
March 27, 2020

As the federal government looks to throw those facing financial woes from the coronavirus crisis a lifeline, financial advisors are warning everyday Americans not to be too quick to jump on board.

Specifically, Retirement Income Center co-director Steve Parrish is cautioning those saving for retirement about using their 401(k)s and other accounts to pay for short-term expenses. Even though lawmakers have waived the penalties, Parrish says doing this could mean disaster for future plans.

For more, read this article from InvestmentNews.

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