A recent study found that a record number of people (around 28%) with 401(k) retirement funds had loans (averaging $7,860) outstanding on them in 2010, meaning that these same folks will not have as much money set aside when it does come time to retire. That's why a pair of Senators have introduced legislation that would make it more difficult for people to tap their 401(k)s.
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3 comments:
Because the senators seem to know more about how to handle MY money than me
It's the 401k owner's money!
makes it easier for them to tap the money instead because you wont have access leaving them able to tap and (LOL) pay back later
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