Not Everyone Will Need a Trump IRA

Years ago, I volunteered teaching financial literacy at a women’s homeless shelter. I may have a doctorate in economics, but I was pretty useless. Being poor in America requires making many complex financial decisions involving details of government benefits that I don’t know much about.

Still, I like to think I was of some use when it came to retirement saving, which is my specialty. I was surprised how many of the women had money in a retirement account from a former job. I gently suggested they make what is called a hardship withdrawal, get out of the shelter, and stop worrying so much about retirement. They were resistant. Saving for retirement is important, they told me.