More And More Americans Are Treating Their 401(k)s Like Cash Machines

With Biden-flation still on the rise 3-years in, more American's are now using their 401k's as ATM's.

"Obviously people are being still affected by higher than normal inflation levels" said Anne Tergesen, reporter for the Wall Street Journal, "There are on going economic challenges to that are causing broader economic distress levels."
Sadly, for too many Americans, dipping into their 401k is their only option.

"People have been burning through some of their savings, and some of their more liquid savings" Tergesen told KTRH, "And in some cases people may have no alternative but to look to their 401k."

According to some of the numbers, more than 75% of hardship distributions in 2023 were for less than $5,000, which may provide in the short term, but will result in many not being able to retire.