Playing the Long Game

ARTICLE
Medical expenses are a primary reason people tap into 401(k)savings accounts before they should.

Hardship Withdrawals from 401(k) Retirement Accounts 

Pie chart: Hardship Withdrawals from 401(k) Retirement Accounts - withdrawal reasons

Figure shows medical expenses were the second highest reason for hardship withdrawals in large market retirement accounts in 2016. Low-cost solutions such as critical illness and accident insurance as well as Health Savings Accounts can help with this challenge. Source: Voya Financial, 2016