Divorce Seen as Heavy Contributor to Early 401(k) Withdrawals

“Compared to large purchases, Americans were more likely to take early withdrawals from their retirement accounts during a divorce or after losing a job, according to research by the University of Michigan. 

Mortgage payment distress was also a major factor leading families to withdraw funds, according to a working paper by economists Frank Stafford of the University of Michigan and Thomas Bridges of the University of Delaware.” Click here to continue reading.

Source: National Association of Plan Advisors