Don't raid retirement accounts early. An emergency fund with enough cash to cover at least six months' worth of living expenses is a necessity for retirement savers who want to see their nest egg grow and recover from market losses untouched until retirement. Fifty-six percent of workers and 69 percent of retirees currently have an emergency fund they can tap if they lose their job or incur an unanticipated medical expense, Principal found. "The 401(k) should be the last area that is accessed for cash-flow needs," says Craig Averill, a personal retirement solutions executive for Bank of America.
7 Ways You Can Still Retire During a Recession - Don't Raid Retirement Accounts
December 9, 2008 RSS Feed Print
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