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Pre-retirement use of 401(k) funds

Pre-retirement use of 401(k) funds Survey data from 2018 indicate that people accessing 401(k) funds prior to retirement through loans or hardship distributions tend to have other debts and poor credit ratings. The tendency for people with weak household balance sheets to tap 401(k) funds prior to retirement will increase the number of people entering retirement with inadequate financial resources. This problem was likely worsened by the increased pre-retirement use of funds during the COVID pandemic. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Business Economics Springer Journals

Pre-retirement use of 401(k) funds

Business Economics , Volume 56 (2) – Mar 26, 2021

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References (3)

Publisher
Springer Journals
Copyright
Copyright © National Association for Business Economics 2021
ISSN
0007-666X
eISSN
1554-432X
DOI
10.1057/s11369-021-00214-7
Publisher site
See Article on Publisher Site

Abstract

Survey data from 2018 indicate that people accessing 401(k) funds prior to retirement through loans or hardship distributions tend to have other debts and poor credit ratings. The tendency for people with weak household balance sheets to tap 401(k) funds prior to retirement will increase the number of people entering retirement with inadequate financial resources. This problem was likely worsened by the increased pre-retirement use of funds during the COVID pandemic.

Journal

Business EconomicsSpringer Journals

Published: Mar 26, 2021

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