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Around the Internet => Antimustachian Wall of Shame and Comedy => Topic started by: acanthurus on May 06, 2014, 08:56:21 AM

Title: This is good comedy...
Post by: acanthurus 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

Title: Re: This is good comedy...
Post by: Ayanka 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)...

Title: Re: This is good comedy...
Post by: soccerluvof4 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.

Title: Re: This is good comedy...
Post by: Cheddar Stacker 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.