401(k) Withdrawal: Why It's in the News

If you've been skimming the news headlines since the COVID-19 pandemic began, you've probably run across at least a couple of articles about 401(k) withdrawals. You may not think they're relevant to you if you're nowhere near retirement age, but 401(k) withdrawals should be on everyone's radar right now as our nation struggles to get the economy back on its feet again.

The CARES Act has temporarily changed some of the rules surrounding 401(k) withdrawals to assist those who are struggling financially due to the pandemic. It's good news for those who aren't sure how they're going to cover next month's bills, but there are long-term consequences to making an early 401(k) withdrawal that you have to weigh as well. Here's everything you need to know about 401(k) withdrawals during the pandemic to help you decide.

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Source Fool.com