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More Americans Are Making Withdrawals From Their 401(k)s as Inflation Hits Households

Americans Are Increasingly Making 401 (k) Withdrawals Due To Debts
More Americans Are Making Withdrawals From Their 401(k)s as Inflation Hits Households
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Bryan Jung
Bryan Jung
8/9/2023|Updated: 8/9/2023
0:00

More Americans are making emergency withdrawals from their 401(k) retirement plans to cover financial emergencies as inflation remains high, according to a recent report.

Millions of households are increasingly relying on their savings and racking up credit card debt to pay for necessities.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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Related Topics
inflation
Bank of America
credit card debt
household expenses
401 (k)
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