401K retirement savings experienced a new high as a significant number of individuals withdrew from it.

Budgets remain tight as holiday spending and inflations take a bite out of wallets. For some families, the financial burden has led them to dip into their 401(k) accounts. Story: Watch: Download: Like us on Facebook: Twitter: Subscribe: ...(read more)

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As the COVID-19 pandemic continues to wreak havoc on the economies of the world, an unprecedented number of people are dipping into their 401K retirement savings, according to recent reports. 401K retirement savings plans are commonly used in the United States, where employees can contribute a portion of their paycheck into a tax-advantaged account that they can later use for retirement. However, disturbingly, a significant number of people are using these savings earlier than planned, as they struggle to make ends meet during the coronavirus pandemic. According to data released by Fidelity Investments, around 2.2 million individuals made a 401K withdrawal in the second quarter of the year — a significant increase from the 1.4 million individuals who took withdrawals in the first quarter. The data also revealed that the average withdrawal amount has increased from $6,000 to $12,000. These withdrawals come as many Americans experience job losses, pay cuts, and increased medical expenses due to the coronavirus pandemic. Many people who have been adversely affected by the pandemic are using their retirement savings as a safety net to cover their basic needs during these tumultuous times. However, financial experts have warned against early 401K withdrawals, stating that this could have lasting consequences on one’s retirement years. Experts also believe that individuals should only make 401K withdrawals as a last resort, as there are other options available such as unemployment benefits, credit lines, or other relief programs. Furthermore, experts have criticized the government for not doing enough to support Americans during these trying times and expressed concerns that this trend of dipping into retirement savings could continue if the situation does not improve. As the coronavirus pandemic continues to ravage the world’s economies, it is clear that the use of retirement savings as a financial lifeline may become more prevalent. However, individuals should only make 401K withdrawals as a last resort, and the government should take more steps to support the people during these trying times and help them weather the storm without having to resort to dipping into their retirement savings. https://inflationprotection.org/401k-retirement-savings-experienced-a-new-high-as-a-significant-number-of-individuals-withdrew-from-it/?feed_id=106436&_unique_id=64853f2e6a351 #Inflation #Retirement #GoldIRA #Wealth #Investing #news #401k #news

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"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

Birch Gold Group Review 2023 – Best Gold IRA Company? Pros and Cons

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. See chapters in the description. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Chapters: 0:00 - Intro 0:26 - Is Gold a Good Investment? 1:03 - What is Birch Gold Group? 1:37 - IRA Eligible Coins 1:59 - Is Birch Gold Group a Legitimate Company? 2:50 - How Does Birch Gold Group Work? 3:34 - Birch Gold Group’s Fees and Investment Options 4:02 - Birch Gold Group Low Minimum Investment 4:29 - Birch Gold Group Storage and Security 5:34 - Con #1 – No Overseas Storage Options 5:49 - Con #2 – Initial Setup Fees 6:02 - Birch Gold Group Review Summary Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a

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