Joe Biden’s economy is destroying Americans.
A record number of Americans used hardship withdrawals from their 401KS in 2022, Vanguard reports.
Hardship withdrawals allow anyone to access their 401K for an “immediate and severe financial need.”
Fox13 reported:
Trending: Listen here: Pilots say Lake Huron ‘octagonal’ object ‘not a balloon’ in just-released cockpit audio
A record-breaking number of Americans are making emergency withdrawals from their 401(k) retirement plans to offset a financial emergency exacerbated by high inflation, according to new data from the Vanguard Group.
About 2.8% of workers participating in employer-sponsored 401(k) plans made a “hard” withdrawal in 2022, according to data from Vanguard, which tracks about 5 million accounts. This marks a major increase from the 2% rate recorded before the start of the pandemic, and a reading of 2.1% in 2021.
…
Fiona Gregg, global head of investor research and policy at Vanguard, said the high number of withdrawals “is evidence that some families may be feeling the pinch in their 401(k) balances to relieve that financial stress.”
Hardship withdrawals allow workers to tap their 401(k) for an “immediate and heavy financial need.”
Americans will pay more for essentials under Joe Biden.
CNBC reported:
Inflation is up for early 2023 as rising shelter, gas and fuel prices take their toll on consumers, the Labor Department reported Tuesday.
The consumer price index, which measures a broad basket of general goods and services, rose 0.5% in January, marking an annual gain of 6.4%. Economists polled by the Dow Jones were looking for an increase between 0.4% and 6.2%.
Excluding volatile food and energy, core CPI rose 0.4% month-on-month and 5.6%, against sequential estimates of 0.3% and 5.5%.
Trump is right – Joe Biden is a disaster for Americans.
For an antidote to media bias, check out ProTrumpNews.com…
