More Americans tapping 401(k)s to pay for financial emergencies

(NewsNation) — More Americans are raiding their retirement savings to cover emergency expenses, taking early withdrawals from their 401(k)s.A record 4.8% of account holders took hardship withdrawals last year, up from 3.6% in 2023, according to Vanguard Group, which examined data from nearly 5 million people with 401(k)-type accounts.Hardship withdrawals let savers tap their retirement funds early for an "immediate and heavy financial need" but are widely seen as a last resort. The most co