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

MOTUS posted a discussion
On display at last night’s White House Correspondents Dinner were all the skills that landed Barry in office in the first place: a keen ability to deliver lines written by others in a convincing manner. Which just so happens to be the #1 requirement…
1 hour ago
Lloyd Marcus posted a blog post
Joseph Goebbels said, “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.”  While I realize that Goebbels was Hitler's propaganda minister, in no way am I comparing Trump's campaign to Hitler.  Such compar…
7 hours ago
Larry Holland posted a discussion
The historic half-black American President. What has he done to help America? ANYTHING? ABSOLUTELY NOTHING!  He has harmed America in innumerable ways, he has ruined the greatest healthcare system in the World, lied his way through his whole terms,…
16 hours ago
MOTUS posted a discussion
Prince Harry and Lady M have a long standing relationship, which stretches way back to 2013 when she still had bangs.Getting together for tea in 2013 – ahead of Harry’s Vegas escapadesAnd last year they got together in Washington again to discuss pl…
yesterday
Larry Holland replied to Larry Holland's discussion Is Obama Intentionally Trying To Demoralize America's Military?
"IT'S WORSE THAN WHAT I POSTED!  AMERICA IS ALMOST COMPLETELY DESTROYED
FROM WITHIN BY AN UNPUNISHABLE SERIAL KILLER CRIMINAL!   IT DOESN'T SEEM THERE WILL EVEN BE AN AMERICA LEFT BY 2017!"
yesterday
Larry Holland replied to Larry Holland's discussion Is Obama Intentionally Trying To Demoralize America's Military?
"After I posted this, I decided to look up proof of my claims that I knew would be there and sure enough:    http://www.redflagnews.com/headlines-2015/military-purge-barack-h-o...; , and http://www.standupamericaus.org/breaking-news/obama-is-destroyi…"
yesterday
Larry Holland posted a discussion
I have said before, you can learn a lot from the little news crawlers they run at the bottom of the screen during newscasts, and this morning is no different. Watching my local news, an news crawler, once again, stated that Russia, intentionally vio…
yesterday
Larry Holland replied to Larry Holland's discussion A Courageous Sheriff Goes On Offense To Federal Government's Attacks on 2nd Amendment
"I might add, the President knows that Revolution may occur and he wants it to occur, he, by his actions, welcomes it, he releases violent offenders and terrorists from prisons, he shows he has no concern for Americans or their safety, and that he do…"
Friday
More…

PAN on Facebook