{"id":124166,"date":"2023-10-27T17:17:32","date_gmt":"2023-10-27T21:17:32","guid":{"rendered":"http:\/\/kendallharmon.net\/?p=124166"},"modified":"2023-10-27T18:01:13","modified_gmt":"2023-10-27T22:01:13","slug":"usa-today-hardship-withdrawals-from-fidelity-investments-401k-accounts-have-tripled-in-five-years","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=124166","title":{"rendered":"(USA Today) Hardship withdrawals from Fidelity Investments 401(k) accounts have tripled in five years"},"content":{"rendered":"<p>More people are making hardship withdrawals from their 401(k) accounts, raiding retirement funds to cover emergency medical expenses or to avoid losing a home.<\/p>\n<p>Hardship withdrawals from Fidelity Investments 401(k) accounts have\u00a0tripled in five years, according to a report from the investment firm. The share of plan participants withdrawing money rose from 2.1% in 2018 to 6.9% in 2023.<\/p>\n<p>\u201cIt\u2019s a big problem, and it\u2019s a growing problem,\u201d said Kirsten Hunter Peterson, vice president of thought leadership at Fidelity.<\/p>\n<p>Vanguard reports that hardship withdrawals\u00a0have doubled in a four-year span, from a monthly rate of 2.1 transactions per 1,000 participants in 2018 to 4.3 in 2022.<\/p>\n<p><a href=\"https:\/\/www.usatoday.com\/story\/money\/2023\/10\/26\/401-k-withdrawal-for-emergencies-more-common\/71311871007\/\">Read it all<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Hardship withdrawals from 401(k) accounts have tripled in five years, according to Fidelity Investments. The share of plan participants withdrawing funds rose from 2.1% in 2018 to 6.9% in 2023. <a href=\"https:\/\/t.co\/ktQZtj4Fus\">https:\/\/t.co\/ktQZtj4Fus<\/a><\/p>\n<p>&mdash; Stephen Miller, CEBS (@smiller_cebs) <a href=\"https:\/\/twitter.com\/smiller_cebs\/status\/1717650341737472030?ref_src=twsrc%5Etfw\">October 26, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More people are making hardship withdrawals from their 401(k) accounts, raiding retirement funds to cover emergency medical expenses or to avoid losing a home. Hardship withdrawals from Fidelity Investments 401(k) accounts have\u00a0tripled in five years, according to a report from<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=124166\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,103,149,168,597,662,91],"tags":[],"class_list":["post-124166","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-aging-the-elderly","category-economy","category-ethics-moral-theology","category-laborlabor-unionslabor-market","category-pensions","category-personal-finance-investing"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/124166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124166"}],"version-history":[{"count":3,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/124166\/revisions"}],"predecessor-version":[{"id":124169,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/124166\/revisions\/124169"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}