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Hardship Withdrawals at All-Time High
Written by Pat's Papers | Tuesday, 7 September 2010 9:11 AM
More Americans are making “hardship withdrawals” from their retirement funds reports the Indianapolis Star this morning. A study by Fidelity Investments found that the number of workers dipping into their savings last quarter was the highest ever. Financial experts say using retirement funds for cash now should be a last resort. Consequences include added taxes and penalties not to mention being barred from 401K contributions for six months.
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