tapping 401(k) plans

Worried About Running Out of Money? Don’t Read This

Posted on 01/15/2013 by | Money and Work | Comments

Bulletin Today | WorkWe know we shouldn’t take money from our 401(k) plans before we retire because we don’t have enough saved in the first place, and secondly, it raises the risk that we’ll run out of money in our later years. But more of us are doing it anyway. A report coming out this week says an increasing number of us are withdrawing money from our retirement accounts to pay the mortgage, to pay down credit card debt and for other non-retirement …