Olivia Mitchell (PSC/PARC Research Associate) was interviewed in a recent episode of the Knowledge@Wharton podcast about why early 401k withdrawls are a bad idea. The 2020 CARES Act allowed people under a certain age to access up to $100,000 from their 401k's without penalty, but Mitchell warns against this considering the potential loss of returns on investments and other downsides.
Executive Director, Pension Research Council
Director, Boettner Center for Pensions and Retirement Research
International Foundation of Employee Benefit Plans Professor
Professor of Business Economics and Public Policy
Professor of Insurance and Risk Management
Ph.D., Economics, University of Wisconsin-Madison, 1978