The stimulus bill allowed millions of Americans to dip into their retirement plans and withdraw an aggregate $100,000 without penalties. The CARES Act also waived required minimum distributions through the end of 2020. Is it indeed a good idea to tap into your retirement accounts, such as a 401(k) plan, a 403(b) plan, an IRA, and some other pre-tax accounts?
No, it's not! Watch our latest video on 5 better sources of cash you can try first.