CARES Act Archives

When Cash Is Tight, Should You Borrow from Retirement Savings?

A person in a t-shirt stands near a neon-lit window, reflecting colorful lights in vibrant pink and blue hues at night.

Withdrawing assets from retirement accounts has tax implications, can lead to a poorer retirement, and should only be done as a last resort, confirms Wharton Prof. Olivia S. Mitchell, interviewed by Knowledge@Wharton.…Read More

Think Twice About Using Your Retirement Savings Right Now

The image shows a person inside a train, looking through the window with reflections and dim lighting. The train''s exterior features a mix of gray and orange colors.

Taking cash from your retirement account may help cover short-term expenses, but it could also result in lower retirement benefits and higher chances of running short in later years, says Wharton Prof. Olivia S. Mitchell, via SavingAdvice.…Read More

Americans will soon be able to take penalty-free withdrawals from their 401(k)s, but experts say think twice about using retirement savings

Two people working on laptops in a modern office with large windows. One is focused on a laptop in the foreground, wearing a beanie and earphones; the other is sitting on a sofa in the background.

New CARES Act lets Americans take penalty-free withdrawals from their retirement savings, but many have no retirement accounts, while those who do cash out could face future shortfalls, Wharton Prof. Olivia S. Mitchell explains to CNBC Make It.…Read More