With Americans hurting and the unemployment rate at the highest in decades, Kevin McNab explains additional flexibility to take distributions from retirement accounts provided through the CARES Act in this ColoradoBiz Magazine article.
Americans entered the year with a great economy, low unemployment, and anticipation of continued economic success. The unemployment rate reached lows not seen in decades and Americans were feeling confident. As Valentine’s Day approached, rumors of a virus in China started to hit mainstream media. Shortly after, the market started to decline, and the first case of COVID-19 was confirmed in the United States.
As the Coronavirus spread, stay-at-home orders were put into place, the stock market crashed, and weekly unemployment claims spiked to record highs. With unemployment in double-digits, and layoffs surly to follow into the summer, Americans are scared. For those unemployed, there are still obligations to pay…READ MORE!