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Americans are pulling money out of 401(k) plans at alarming rate

More Americans are tapping their 401(k) accounts because of financial distress, according to new data.

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Americans are pulling money out of their 401(k) plans at an alarming rate

Minneapolis (CNN) — More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday.

New yorkUnited statesLorna sabbiaMatt schulzMore americansParticipant pulseNew york federal reserveNew york fed

If Joe Biden s economy is as great as he says it is, why have 401(k)s plunged 20%?

If Joe Biden s economy is as great as he says it is, why have 401(k)s plunged 20%?
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Retirement Contributions, Hardship Distributions Both Increased in Q1

Despite the markets dragging down retirement account balances, a snapshot of early-2023 activity shows workers still saving.

United statesParticipant pulse

BofA Data Finds that 2023 is off to a Strong Start for Consumer Spending, With Credit and Debit Card Spending Per Household up 5 1% Year-over-Year in January

/PRNewswire/ Bank of America Institute released new analysis today which shows signs of a strengthening in consumer spending at the start of 2023. BofA.

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