Apr 8, 2020

Emergency funds from your 401(k)

New rules on tax-protected retirement plans, so people can take their money out without penalty and put it back when cash flow returns. TJX the latest retailer to trigger mass furloughs. Slow ramp-ups for Chinese cities after lockdowns.

Segments From this episode

Americans can now tap 401(k)s without penalty. Here's how it works.

People affected by the crisis can access of up to $100,000 of their retirement savings without the usual 10% penalty.
Personal finance experts are warning, however, that you should only dip into your retirement savings in the case of an emergency.

Music from the episode

The team

Nicole Childers Executive Producer
Victoria Craig Producer, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Candace Manriquez Wrenn Producer/Editor
Brian Allison Engineer
Alex Schroeder Digital producer
Meredith Garretson Producer
Rose Conlon Producer
Erika Soderstrom Producer/Director