Obama's proposed budget lets unemployed workers drain their retirement savings

Obama's proposed budget lets unemployed workers drain their retirement savings
<i>Breakfast with Benjamin</i>: The president's 2016 budget lets workers tap into their 401(k)s penalty-free once unemployment runs out.
MAR 11, 2015
  • If 26 weeks' worth of unemployment benefits aren't enough to get you back on your feet, why not tap into your retirement savings? Sad as this logic might sound, it is the safety net that President Barack Obama is proposing as part of his 2016 budget. Two wrongs don't make a right
  • Even as inflation goes negative for the first time since 2009, Fed watchers say a rate hike is as on track as it has ever been. Don't bet the farm on it. Falling gasoline prices seen as the culprit
  • Investing in Argentina, a country already in default, means putting your big-boy pants on and being prepared to lose them. Consider yourself warned
  • Once you get past the multiple layers of lawyers, the net neutrality decision doesn't mean much for consumers. At least not yet. 'Preventing things from getting worse'

Latest News

Mesirow acquires part of flexPATH in second retirement deal of 2026
Mesirow acquires part of flexPATH in second retirement deal of 2026

Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.

Advisor moves: LPL lands $350M veteran advisor duo in Florida
Advisor moves: LPL lands $350M veteran advisor duo in Florida

Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.

SEC accuses crypto firm founder of running $425 million Ponzi scheme
SEC accuses crypto firm founder of running $425 million Ponzi scheme

It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.

MassMutual Ascend tops $2 billion in RIA annuity sales as advisors warm to income products
MassMutual Ascend tops $2 billion in RIA annuity sales as advisors warm to income products

Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.

Fintech bytes: Wealth tech firms target advisor productivity with new integrations
Fintech bytes: Wealth tech firms target advisor productivity with new integrations

Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income