During the first three months of 2023, 401(k) hardship withdrawals surged 36% compared to the second quarter of 2022.1
We save for numerous reasons – an upcoming vacation, college tuition, retirement, and other expenses, both expected and unexpected.
In early 2022, the IRS issued proposed regulations regarding required minimum distributions (RMDs) to reflect changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.
Retirement savings accounts are a fantastic way to build a nest egg for your golden years. Both Individual Retirement Accounts (IRA) and 401(k)s are tax-advantaged accounts, which allow you to keep more of the money you worked so hard to save.