Posted 3/26/2020 10:52 (#8140160 - in reply to #8140128) Subject: RE: 401k withdrawals impact on stock markets
The CARES act allows "coronavirus-related distributions" up to $100,000 that won't be subject to the 10% penalty... and you can repay [I meant "re-contribute"] the corona-related distributions over the next 3 years.
Still reading thru this massive amount of text in the CARES act, but that was one thing I highlighted.
If people do sell out of their 401k/IRAs, will they be selling at the bottom to the wall street sharks? probably.
EDIT - Also, it looks like the Strategic Petroleum Reserve WILL NOT be getting filled 'to the top'...... The funding wasn't provided in the CARES act legislation.... Oil trading lower now, but oil stocks up?