12.20.23 Borrowing From Retirement Accounts / Apple To Android Texting

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 20 December 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

New stats reveal many Americans are tapping retirement accounts for cash shortfalls. There are safety valves that allow access to these funds pre-retirement but doing so erodes future wealth. Clark discusses where to draw the line when faced with this dilemma. Also today, positive changes from Apple include a texting fix that’s long overdue. Borrowing From Retirement Accounts: Segment 1 Ask Clark: Segment 2 Apple’s Texting Fix: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Retirement Accounts Are the New Emergency Funds 529 rollover to Roth IRA: A guide to conversion E-ZPass Group - Home E-PASS - Central Florida Expressway Authority NYTimes: Apple Says It Will Improve the Green vs. Blue Texting Experience Why unexpectedly high ambulance bills are still a problem in the U.S. How to Find Airline Mistake Fares and Save Big on Airfare Clark’s Christmas Kids Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This episode is brought to you by Oracle.
0:03.0	AI may be important, but it needs a lot of processing speed,
0:06.0	and that gets expensive, fast, upgrade to the next generation of the cloud.
0:11.0	Oracle Cloud Infrastructure or OCI.
0:14.0	OCI is the single platform for your infrastructure,
0:17.0	database, application development, and AI needs.
0:20.0	Do more and spend less, like Uber 8 by 8 and Data
0:24.8	Brakes mosaic. Take a free test drive at oracle.com
0:28.6	slash enhance. I'm so glad to welcome you here to the Clark Howard Show. You know our mission is to serve you with information with knowledge that empowers you so you can make better financial decisions
0:46.1	in your life.
0:47.8	One decision I don't want you to make is using your retirement accounts as a piggy bank when you need cash.
0:56.0	I just read some stats recently about how common and often people use it as their savings account.
1:05.8	I'm also excited about something
1:07.6	Apple is going to do a change
1:11.3	that is going to make life a lot easier for people who are Android communicating with
1:18.3	iPhone, I'll tell you about it why it happened. So this is one of the
1:28.4	hardest things that the
1:35.0	things that the architects of retirement plans had to wrestle with in the Congress that there was this feeling that if
1:39.0	retirement accounts either IRAs or 401k's or 43b's, if they were structured where the money went in, but
1:48.8	it could not be touched under any conditions until retirement that people would be afraid to contribute to it.
1:57.3	So there are safety valves with the retirement accounts that allow you access to your funds during your working lifetime.
2:07.2	There's even with 401k's there are certain circumstances that qualify for a hardship withdrawal and if an employer
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Clark Howard, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Clark Howard and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.