The Epoch Times
The Epoch Times
AD
The Epoch Times
Personal Finance

More Americans Tapping Into Retirement Savings as ‘Hardship’ Withdrawals Rise

Americans are increasingly pulling money out of their 401(k) plans to pay bills, suggesting households are under growing financial strain.
Google LogoMark Us Preferred on Google
More Americans Tapping Into Retirement Savings as ‘Hardship’ Withdrawals Rise
US dollar currency is counted in Los Angeles, Calif., on Sept. 22, 2023. Patrick T. Fallon /AFP via Getty Images
Tom Ozimek
Tom Ozimek
Reporter
12/1/2023|Updated: 12/3/2023
0:00

A significant jump in the number of Americans yanking money out of their 401(k) accounts to pay bills and buy necessities is the latest sign that the U.S. consumer is experiencing increasing levels of financial strain.

A new report from Fidelity, the nation’s largest provider of 401(k) plans, reveals a troubling trend—Americans are increasingly tapping their retirement savings in the form of hardship withdrawals and loans.
Google LogoMark Us Preferred on Google
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
twitter
Author’s Selected Articles
EU Defense Chief Echoes Trump’s ‘Peace Through Strength’ in Push to Rearm Europe
May 27, 2026
EU Defense Chief Echoes Trump’s ‘Peace Through Strength’ in Push to Rearm Europe
Pentagon Denies Restarting US Naval Escorts Through Strait of Hormuz
May 27, 2026
Pentagon Denies Restarting US Naval Escorts Through Strait of Hormuz
Rubio Says Hormuz Will Be Open ‘One Way or the Other,’ Expresses Cautious Confidence in Iran Deal
May 26, 2026
Rubio Says Hormuz Will Be Open ‘One Way or the Other,’ Expresses Cautious Confidence in Iran Deal
Trump Gives Iran 3 Options to Deal With Uranium Stockpile as Peace Talks Advance
May 26, 2026
Trump Gives Iran 3 Options to Deal With Uranium Stockpile as Peace Talks Advance
Related Topics
inflation
401k
hardship withdrawal
AD
Add to My List
Save
The Epoch Times
Copyright © 2000 - 2026 The Epoch Times Association Inc. All Rights Reserved.