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Hit by the virus and weighing a raid on your 401(k)? Beware

Usa virus experts consequences Coronavirus
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Many Americans are struggling financially due to the coronavirus. A recent federal relief package makes it easier for people financially harmed by the coronavirus outbreak to tap into their retirement savings for cash by loosening rules for withdrawals and loans.

But should they use them? Experts say it's an option of last resort and should be done with great caution. A few things to consider first: ___ WITHDRAWALS The CARES Act allows people affected financially by the coronavirus to withdraw up to $100,000 penalty free from eligible retirement accounts during 2020.

Previously, any withdrawal before age 59 ½ faced a 10% penalty. The new withdrawal rules apply to most retirement accounts, such as 401(k) accounts, 403(b) accounts and

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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