Author Topic: This is good comedy...  (Read 2306 times)

acanthurus

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This is good comedy...
« on: May 06, 2014, 08:56:21 AM »
...and a sad commentary on the state of retirement savings nationwide.

http://www.bloomberg.com/news/2014-05-06/early-tap-of-401-k-replaces-homes-as-american-piggy-bank.html

Ayanka

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Re: This is good comedy...
« Reply #1 on: May 06, 2014, 09:23:20 AM »
Personally I think that especially the amount the woman had in her account before this hardship is daunting (9,5 K USD)...

soccerluvof4

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Re: This is good comedy...
« Reply #2 on: May 06, 2014, 02:38:45 PM »
I have numerous employees over the years take money out and always say there going to payback and they dont. The numbers are scary what people dont have saved up. It becomes a worry as to how all these people will be supported.

Cheddar Stacker

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Re: This is good comedy...
« Reply #3 on: May 06, 2014, 02:50:29 PM »
More sad than funny. I don't understand why people don't see how big of a mistake it is to pay a 10% penalty. An we think a 1% expense ratio is high.

I guess a real "piggy bank" or bank account is just out of the question. It has to either come from home equity or your retirement.