Don't Tap Your Retirement Savings Without Reading This
Millions of Americans are out of work indefinitely due to COVID-19, and that has a lot of people scrambling to figure out how to provide for their families until life returns to normal. Unemployment claims have already shattered records, and the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act has extended unemployment eligibility while also promising stimulus checks to millions.
The act has also made it easier for Americans to tap their retirement savings without paying taxes or penalties, but that doesn't mean it's a good idea. There are a few things you need to consider before cracking your nest egg open.
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Source Fool.com
