Blogs & Discussions

NOT YET A MEMBER OF THE LIBERTY MOVEMENT'S ALTERNATIVE TO FACEBOOK? CLICK HERE TO SET UP A FREE SOCIAL PROFILE NOW!

High unemployment and underemployment forced one in four Americans to pull money out of a retirement plan to make ends meet.
Not even the high penalties that make it prohibitive to tap into 401(k) accounts were a deterrent as a record $60 billion was yanked from nest eggs to pay for mortgages, car loans and .
Those are some of the conclusions of a recent study by  financial-guidance service HelloWallet. The study shows that saving and retaining money for a secure retirement are becoming more difficult.
The study shows that pre-retirees are breaking into retirement accounts, taking out billions of dollars. They are spending on average some 40 percent of the money that was supposed to be for their golden years on the here-and-now.
Getty Images
 
“Over 25 percent of households that use a 401(k) or a similar defined-contribution plan have used some or all of their retirement saving for nonretirement needs,” according to the report. The study relied on Census and Federal Reserve Board data.
“This is a massive, systematic problem,” the report warned, “that now affects one out of every four participants on average, which is more like a gaping hole in the defined-contribution boat than a pesky leak.”
Email me when people comment –

You need to be a member of Patriot Action Network to add comments!

Today's News

Latest Network Activity

Stingray USN Vet OK Coordinator posted a blog post
In looking over all of the news going on world wide, seeing the atrocities of ISIS, the bypassing of our congress, the actions of obozo acting like a dictator, as well as the TREASONOUS actions of him and hitlery clinton, one must be thinking of why…
2 hours ago
Stingray USN Vet OK Coordinator commented on Larry Holland's blog post STANDBY For Possible Martial Law in Baltimore City
"Is it any wonder why law enforcement has refrained from doing anything to stop them? If it happens in my area and I'm called out to stop them, I will! The local law enforcements of several cities since the first Watts riot in Los Angeles have done n…"
3 hours ago
Larry Holland commented on Larry Holland's blog post STANDBY For Possible Martial Law in Baltimore City
"A nw Senior Center under construction is burning down, now reported as arson and another
building burning near it."
4 hours ago
Larry Holland commented on Larry Holland's blog post STANDBY For Possible Martial Law in Baltimore City
"If this mess in Baltimore is Martial Law, it's a complete failure, Rioters have control of the city.
When you see a few rioters go up to about 50 well armed & protected police and throw blocks at them these rioters have no fear! There's no pushback!"
4 hours ago
Lance Thate is now a member of Florida Patriots
7 hours ago
Larry Holland commented on Larry Holland's blog post STANDBY For Possible Martial Law in Baltimore City
"Signing off."
7 hours ago
Larry Holland commented on Larry Holland's blog post STANDBY For Possible Martial Law in Baltimore City
"More insanity! School kids tweeted and texted All High Schools  at 3  PURGE Baltimore!
What was our useless NSA and DHS doing?  Listening in to granny and her neice talking
about recipes???"
7 hours ago
Larry Holland commented on Larry Holland's blog post STANDBY For Possible Martial Law in Baltimore City
"STATE OF EMERGENCY DECLARED BY GOVERNOR OF MARYLAND. 2 hours later"
7 hours ago
More…

PAN on Facebook