You Can Now Withdraw Up to $100,000 From Your Retirement Fund Penalty-Free. But Should You?
The coronavirus has affected nearly every aspect of the way we live, and it's caused significant economic hardship for millions of Americans. Roughly 50% of U.S. adults say COVID-19 has affected their personal finances, a survey from Pew Research Center found, and 88% say it's had an impact on the U.S. economy.
As a result, Congress recently passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide economic relief to individuals and businesses who are struggling due to the coronavirus pandemic.
One of the most notable features of the bill is the $1,200 stimulus check millions of Americans will be receiving. But there's a lesser-known aspect of the bill that could have a significant effect on your finances: You now have the opportunity to raid your retirement fund without facing a penalty.
Source Fool.com
