Debt & Savings
Trump Wants Homebuyers to Tap 401(k)s for Down Payments. Should They?
President Donald Trump is slated to unveil a plan for letting retirement savers use the money to buy homes.
A realtor's sign outside a house in the Capitol Hill neighborhood of Washington, DC.
Photographer: Al Drago/BloombergPresident Donald Trump’s new plan to boost home ownership risks leaving some Americans unprepared for retirement.
As part of an ongoing push to improve housing affordability, Trump is seeking to allow savers in 401(k) retirement plans to use some of their money for down payments on a home purchase, according to National Economic Council Director Kevin Hassett. The plan will be unveiled next week at the annual World Economic Forum in Davos, Switzerland.