Took a 401(k) Withdrawal? 3 Things You Should Do Now

Kailey Hagen, The Motley Fool
Took a 401(k) Withdrawal? 3 Things You Should Do Now

The federal government has removed the penalty on early 401(k) withdrawals for individuals under the age of 59 1/2 due to the COVID-19 pandemic, but there are long-term consequences you have to weigh as well. Early withdrawals can make it more challenging to save enough for retirement. Do these three things if you've taken or are thinking about taking a 401(k) withdrawal this year.