Reduce Your Contributions

If you’re struggling to make ends meet, before you dig into your retirement plan, think about reducing your contributions first. Your plan could be taking a big chunk out of your income and there’s no more room in your budget to cut expenses from, consider reducing, or even temporarily stopping your contributions. It will help you get through these unprecedented times in one piece.

For instance, if you contribute $1,000 every month, make that $500 or even $0 for a while, to avoid having to draw money from your retirement savings. Speaking of retirement, here are 22 Ways to Protect Your Retirement From a Possible Recession.