More than 1 in 4 working Americans are tapping into their retirement funds early, financial study says

DALLAS — Even with the Texas economy slowly starting to reopen, the impact has already been felt. The state's jobless rate in April was 12.8%⁠—the worst monthly tally ever recorded for Texas.

According to financial services company Bankrate, 27% of Americans working or recently unemployed have tapped into or plan to use their retirement funds as an immediate source of income. This comes out to 31,000,000 people.

Within the group, 14% have already taken money out and 13% plan to in the future.

Forty-five percent of America's lowest-income households have tapped into or plan to withdraw from their retirement savings early, according to Bankrate....(Read more)

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