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401(k) Hardship Withdrawal Rate - Are we concerned?
Posted on 7/1/26 at 12:19 am
Posted on 7/1/26 at 12:19 am
Data from major retirement plan administrators (such as Vanguard) confirms that hardship withdrawals from 401(k) accounts have risen to 6%.. This is up from a historical pre-covid average of roughly 2%.
Secure Act 2.0 doing work.
Secure Act 2.0 doing work.
This post was edited on 7/1/26 at 12:20 am
5
Posted on 7/1/26 at 9:06 am to FAT SEXY
The recession is always 6 months away.
Posted on 7/2/26 at 11:35 am to FAT SEXY
“K” shape economy getting real.
Posted on 7/3/26 at 2:37 am to P0SEIDON
quote:
K Shape Economy
There's merit to this theory. If it is true(likely), it's 100% based off of a fiat system in conjunction with our reserve currency status. We can just inflate and those privy to it can take advantage of it..
As far as the OP goes, it's interesting data to me..
I'm always looking for the proverbial canary to chirp.
Maybe this is simply people looking for alternative retirement vehicles? Maybe it's actual distress?
It's hard to trust the system we find ourselves in tbh.
Posted on 7/3/26 at 6:40 am to FAT SEXY
Doesn't surprise me with the endless news of layoffs and lack of new job creation.
Americans are struggling right now with inflation
Americans are struggling right now with inflation
Posted on 7/3/26 at 9:46 am to FAT SEXY
I chalk it up to more people just being stupid and financially irresponsible. The economy could be booming, and those same folks would be in a financial emergency.
Posted on 7/3/26 at 10:11 am to FAT SEXY
Big expense households with someone losing their job.
Posted on 7/3/26 at 10:50 am to FAT SEXY
I know two coworkers that recently did it, due to the student loan repayment rules changing. It made more sense to eliminate high interest debt.
Posted on 7/3/26 at 10:51 am to Twenty 49
quote:
I chalk it up to more people just being stupid and financially irresponsible. The economy could be booming, and those same folks would be in a financial emergency.
Posted on 7/3/26 at 3:43 pm to Twenty 49
quote:
I chalk it up to more people just being stupid and financially irresponsible.
Stupid and financially irresponsible people do not save for retirement into 401ks. People could be doing any number of things with the money, but it is a much more disturbing trend than you give it credit for being.
Posted on 7/3/26 at 6:52 pm to go ta hell ole miss
I work in a plant. In every control room, folks brag about their 401k loans. Most have 2. Braces, boats, and vehicles are all the "hardships" these folks have.
One dude said he took out a loan and paid for his truck in cash.
One dude said he took out a loan and paid for his truck in cash.
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