Monday, March 18, 2013

Raiders Of The Lost Funds

People seem to be worried about paying their bills:
More than 25 percent of Americans are dipping into 401(k) retirement accounts to pay bills, according to a recent report.

U.S. workers are tapping into nearly a quarter of the $293 billion placed into their retirement savings each year to pay for mortgages, credit cards and other debts, according to a report from financial advisory firm HelloWallet. Those in their 40s are the most frequent raiders, with about one-third using their 401(k)s to pay current bills.

Other studies bear out those results. Vanguard, an investment-management group, said American workers withdrawing money from 401(k)s or taking out loans against their accounts jumped 12 percent since 2008.
I suppose it's an alternative to the government finding some way of taking it from them...

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