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New Survey Finds Americans Are Withdrawing Significant Amounts From Retirement Accounts To Cover Living Expenses During The Pandemic


New Survey Finds Americans Are Withdrawing Significant Amounts From Retirement Accounts To Cover Living Expenses During The Pandemic
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WASHINGTON, Jan. 6, 2021 /PRNewswire/
 Nearly 33% of Americans withdrew or borrowed money from an IRA or 401(k) during the pandemic, and nearly two-thirds (63%) used those retirement savings to cover basic living expenses, according to a new poll released today by 
Kiplinger s Personal Finance magazine and industry-leading digital wealth management company, Personal Capital, an Empower Company.
Kiplinger-Personal Capital Survey finds Americans are withdrawing significant amounts from retirement accounts to cover living expenses during the pandemic
35% of respondents now plan to work longer due to the financial impact the pandemic has had on their retirement plans. ....

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