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000 withdrawal, 30 years prior to retirement is $10,000*(1+r) 30 The opportunity cost measured by lost wealth in the 401(k) plan at retirement depends on nominal or total returns
perso nal-saving-during-the-covid-19-reces sion. 14 Likelihood of eviction statistics were generate by the Census Department Household Pulse Survey and can be found here
“ Should Rules on Early Use 401 ( k ) Funds be Modified ?
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.
Business Economics – Springer Journals
Published: Mar 26, 2021
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