Feel Compelled to Tap Your Retirement Savings? Do These Things First [Yahoo! Finance]
Discover Financial Services (DFS)
Last discover financial services earnings: 4/22 05:35 pm
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Source: Yahoo! Finance
But there may come a point when you're tempted to tap your individual retirement account (IRA) or 401(k) ahead of retirement. That scenario might arise when you have a home repair to cover. Or maybe your car gives out on you and you unexpectedly need to replace it. A December 2023 survey by Betterment at Work found that 30% of workers tapped their retirement accounts over the previous 12 months to pay for short-term expenses. But going that route could have serious consequences. Read more: unlock best-in-class perks with one of these brokerage accounts The problem with tapping your retirement savings when you're not retired The IRS offers some pretty sweet tax breaks for funding a traditional IRA or 401(k) plan. Not only does your money get to go in on a pre-tax basis, but you're not taxed on investment gains year after year. Rather, those gains are tax-deferred until you take withdrawals. But in exchange, the IRS wants the money in your IRA or 401(k) reserved for retirement
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News
- Best Savings Rates Today -- Don't Wait to Maximize Your Interest Earnings, April 29, 2024 [CNET News]CNET News
- Discover Financial Services (NYSE:DFS) Is Paying Out A Dividend Of $0.70 [Yahoo! Finance]Yahoo! Finance
- Best Savings Rates Today, April 26, 2024: Save More With One of These High-Yield Savings Accounts [CNET News]CNET News
- Discover Financial Services (NYSE: DFS) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Capital One Profit Misses Estimates as Loan Write-Offs Climb [Yahoo! Finance]Yahoo! Finance
DFS
Earnings
- 4/17/24 - Miss
DFS
Sec Filings
- 4/26/24 - Form 425
- 4/26/24 - Form 425
- 4/24/24 - Form 4
- DFS's page on the SEC website