US workers dip into retirement accounts; “Buy Now Pay Later” spending surges to record levels.

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American workers facing financial hardships are increasingly tapping into their retirement accounts, with hardship withdrawals surging by 30% last year. As a result, one in six workers now has an outstanding loan on their retirement, significantly impacting average 401k balances and raising questions about the sustainability of consumer borrowing, especially as “Buy Now Pay Later” spending hits record highs.

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