Should I withdraw money from my 401(k)? The CARES Act allows no-penalty withdrawals, but experts advise against it [USA TODAY]
Voya Financial, Inc. (VOYA)
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Source: USA TODAY
CLOSEThe coronavirus (COVID-19) is impacting the global economy and raising fears of a recession. What causes a recession and what are the signs?USA TODAYCONNECTTWEETLINKEDINEMAILMOREThe CARES Act makes it easier for Americans struggling with economic hardship from the coronavirus pandemic to withdraw money from their retirement accounts.Should you take advantage of it? Experts typically advise against it, but the fallout from the crisis has left many people scrambling to pay their bills after being laid off or furloughed.The new provisions from the CARES Act allow Americans to draw down money from tax-deferred accounts without penalties. It also relaxes rules on taking out a loan from a 401(k) savings plan.But there are factors to consider before rushing to tap into your retirement funds. Evaluate your short-term financial needs and potential tax implications when considering whether to withdraw money from your nest egg.“People work hard for their retirement savings and you should di
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VOYA
Earnings
- 4/30/24 - Beat
VOYA
Sec Filings
- 5/6/24 - Form 10-Q
- 5/1/24 - Form 4
- 4/30/24 - Form 8-K
- VOYA's page on the SEC website