Coronavirus Stimulus Bill Lets American Raid Their Retirement Accounts

The American College of Financial Services
CBS Moneywatch
March 27, 2020

With the government’s coronavirus relief package now signed into law, financial advisors and experts across the country are analyzing the options everyday Americans may have to stay afloat during a crisis that has so put so many out of work.

One way is a provision allowing people to take money out of their 401(k)s or other retirement accounts early, without penalties. Retirement Income Center co-director Steve Parrish says this could relieve some of the pressure on savers, but it too comes with a price tag.

To learn more about the government’s measures and Parrish’s advice on using retirement funds, read this piece from CBS News Moneywatch.

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