9 Step Plan to Virus-Proof Your Money Life


Reduce your 401(k) deferral

While this approach is usually not considered a prudent strategy, it may become necessary in an extraordinary financial emergency. If feasible, you can consider reducing your contributions to the employer-match level.

This would at least be a better option that making an emergency withdrawal or taking out a loan. In any case, you should be aware that several erstwhile restrictions related 401K withdrawals have now been removed under the CARES Act to extend financial support to the people.