401(k)s are becoming emergency piggy banks as more Americans tap funds: WSJ

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Puzzle about 401k retirement plan.

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Americans are saving more than ever in their 401(k)s, but they’re also dipping into them at record rates, The Wall Street Journal reported late Saturday.

According to Vanguard, 4.8% of workers took hardship withdrawals in 2024, more than double the pre-pandemic average. Additionally, nearly a

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