New parents can now take penalty-free early withdrawals from retirement savings, but they may want to think twice

New parents can now take penalty-free early withdrawals from retirement savings, but they may want to think twice

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New parents will have one new source to tap for money — their retirement savings.
The Secure Act, which was passed by Congress in December, is ushering in some of the biggest changes to retirement savings since the Pension Protection Act of 2006.
But experts warn that tapping your retirement accounts, even if it is to care for a new child, may not be the best financial…

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