You can now use your 401(k) to rebuild after a natural disaster — but should you?
In a recent MarketWatch article, Jennifer Kim, a Managing Senior Partner at SEIA, emphasized the importance of preserving retirement savings, stating, “Time is of the essence when saving for retirement, and it should be your absolute last emergency fund.”
While recent policy changes allow 401(k) withdrawals for natural disaster recovery, it’s crucial to consider the long-term impact on your retirement goals. Exploring alternative funding sources before tapping into retirement accounts is advisable.
Read the full article for more insights: https://www.marketwatch.com/story/you-can-now-use-your-401-k-to-rebuild-after-a-natural-disaster-but-should-you-28c181b4
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