Trump’s 401(k) Plan Sparks Calls for Homebuyers to ‘Be Careful’

President 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.

Details on how this would work are still being figured out, Hassett said on Fox Business News on Friday. Currently, savers are technically able to borrow or withdraw 401(k) money for ...