Why You Should NOT Withdraw Money From Your 401k During the COVID-19 Crisis

In this episode of the Eagle's Nest podcast: Keith Weinman explains why taking out money from your 401k during the COVID-19 crisis could be a huge mistake.

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Keith Weinman

In this episode of the Eagle’s Nest podcast: Keith Weinman explains why taking out money from your 401k during the COVID-19 crisis could be a huge mistake.

On Friday, March 27th, Congress passed the CARES ACts, a $2 trillion stimulus bill as a counter-measure response to the economic damage being caused by the measures required to slow COVID-19. 

With millions of Americans facing unemployment or reduced pay, Congress has removed the penalty for individuals withdrawing up to $100k from their 401ks or individual retirement accounts (IRA).

However, there are caveats and a lot of variables to consider. For most people, withdrawing money from their 401k or IRA will be a huge mistake. Keith Weinman explains why in the podcast. 

If you are worried about your 401k, retirement plan, or other investments being impacted by the current state of the markets, fill out the form below or give us a call at 303-694-1600. We can help with investment strategies and options designed to shield investors from market volatility. All initial meetings and reviews are free. 

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