Many Americans have depleted their savings and/or taken on excessive debt to financially survive the last several years. High energy costs, exorbitant inflation, and sluggish wage growth have taken their toll. Our aging parents have needed more help than before, as their incomes are largely fixed, but their medical and pharmaceutical costs have skyrocketed…not to mention their day to day expenses. Even though I have money stashed away in a 401K, I can’t withdraw it. I have to borrow against it, taking on further debt. I would love to be on level ground when the coming economic boom begins. This would help my family and benefit the economy as well, as I could put money toward spending instead of just servicing debt. I’m sure I’m not alone.
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Well said. However, I dont believe I should be penalized at all for withdrawing my money.
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Its our money, we should be able to do with it as we please without penalty.
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My point exactly.
Precisely.