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Will my retirement account become inactive if I don't pay for a couple of months?

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What will happen if I don't pay to my retirement account for a couple of months? Will it become inactive?

No. It won't become inactive if you don't contribute for a few months. Rather, after the pandemic, it's okay if you don't contribute toward your retirement savings account. In fact, you can liquidate your retirement savings accounts and withdraw money from them to survive this tough period. However, always consider this option as your last resort. Don't withdraw unless you have no other option.

Sub: #1 posted on Tue, 05/12/2020 - 21:34

David Martin David Martin

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By considering the current situation, you did the right thing. It perfectly wise to stop contribution towards your retirement savings account. When the situation gets normal, you may again start contributing to that account. Until then, the retirement account will be active.

Sub: #2 posted on Tue, 05/12/2020 - 23:10

Barbara Delinsky Barbara Delinsky

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Hey Fred!

As per the current situation your retirement account won’t be inactive for now.

Sub: #3 posted on Thu, 05/14/2020 - 04:27

Ryan Miller Ryan Miller

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As others have said you can opt for this if you really need it. However, it is always better at least not to take out money from your retirement account since it will fund your retirement days.

Sub: #4 posted on Fri, 05/15/2020 - 03:57

Good Nelly Good Nelly
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No, it woin't be inactive. However, you should set a aside some amount to contribute if you are nearning retirement.

Sub: #5 posted on Fri, 05/15/2020 - 04:36

Sanders Patricia Sanders Patricia

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