We explore hardship withdrawal from 401ks, updates on the Iran war and more

This episode of Bay Area All Local covers three major stories: the rising trend of hardship withdrawals from 401(k)s, the escalating tensions in the Iran war, and the high-stakes California gubernatorial race. CBS News business analyst Jill Schlesinger warns against early 401(k) withdrawals, emphasizing that while the IRS allows penalty-free access under specific circumstances like medical expenses or preventing foreclosure, the tax burden and difficulty of replenishing funds make it a last resort. She advocates for building emergency reserves and using loans over withdrawals. In foreign affairs, military analyst Colonel Jeff McCausland discusses President Trump’s aggressive threats to strike Iran’s civilian infrastructure unless the Strait of Hormuz reopens, calling such public threats unprecedented and potentially damaging to U.S. global standing under international law. On the domestic front, the episode examines the fractured Republican primary in California, where Trump’s late endorsement of Steve Hilton may not be enough to overcome a split vote with Chad Bianco, potentially paving the way for a Democratic victory in the general election due to California’s top-two runoff system. The race remains tightly contested with no clear front-runner on either side.