Jun 22, 2020

Borrowing from yourself during the pandemic

The IRS is making more families eligible to borrow from their retirement accounts without penalty. American Airlines has been forced to raise another $3.5 billion. Why the U.S. government would sell bonds that don’t need to be paid back.

Segments From this episode

More people are eligible to tap retirement savings without penalty

The big change: If your spouse's job has been hit by COVID-19 you may be eligible to pull as much as $100,000 from retirement savings — penalty-free.

Why the U.S. government would sell bonds that don't need to be paid back

It could help the federal government deal with the debt mountain it's amassing from COVID-19 spending.
Long-term bonds would help the Treasury borrow while locking in the current low interest rates.
Alastair Pike/AFP via Getty Images

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
Jay Siebold Engineer
Brian Allison Engineer
Alex Schroeder Digital producer
Meredith Garretson Producer
Rose Conlon Producer
Erika Soderstrom Producer/Director