Thinking of Raiding Your Retirement Plan Because of COVID-19? Here Are 3 Reasons You Shouldn't.
COVID-19 has already hurt a lot of Americans financially, and with cases still popping up by the thousands, it's clear that life may need to stay on hold longer than we'd like it to. That's bad news from an economic standpoint, because the longer businesses stay closed and Americans remain out of work, the harder our recovery will be.
Thankfully, there's some relief to be had in the form of the CARES (Coronavirus Aid, Relief, and Economic Security) Act -- namely, one-time $1,200 stimulus payments that have already started going out to desperate Americans, boosts in unemployment benefits, small business funding, and more relaxed rules with regard to retirement plan withdrawals.
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Source Fool.com
