Cash-Strapped Americans Raiding Their 401(k)s
October 24th, 2007Via: Chicago Tribune:
Despite potential tax and investment problems, more investors have been borrowing from their 401(k) plans or taking hardship withdrawals in recent months, some retirement plan providers say.
Many in the field expect more borrowing in 2008, as consumers struggle with tighter credit and potentially higher mortgage payments.
Posted in Economy | Top Of Page
Far from being a big player with my savings, I liquidated an IRA so I could move those assets somewhere that at least feels safer. That’s right, Bullion Vault. I wouldn’t be surprised if many of the more aware investors are doing something similar. This government has proven itself to be totally unconcerned with the people’s welfare. I was going to say reckless and incompetent but those are mere appearances. There seems to me to be a plan in motion that includes separating the baby boomers from their wealth. I’m not into gold to get rich, only to protect myself from being wiped out. Kevin, by the way I used your link to BV.