Why more Americans are making hardship withdrawals

What prompted Hannah Empie to withdraw from her 403(b) account?

• She lost her job and needed immediate funds.

• She wanted to invest in the stock market.

• She wanted to buy a new house.

• She was planning for an early retirement.

What has caused an increase in early withdrawals from retirement accounts according to the video?

• Low interest rates on savings accounts

• High inflation and economic pressures

• Government policies

• Lack of financial literacy

What is a consequence of early withdrawal from a retirement account mentioned in the video?

• Immediate financial stability

• Potential tax penalties and lost future earnings

• Eligibility for government assistance

• Increased savings interest rates

According to Roben Farzad, what should people consider before making an early withdrawal from their retirement account?

• Investing in real estate

• Starting a new business

• Downsizing their lifestyle

• Buying a new car

What does Roben Farzad suggest as a fundamental pillar of personal finance?

• Taking on multiple jobs

• Saving and investing

• Borrowing from friends and family

• Spending on luxury items