Mainecoons
03-07-2013, 02:20 PM
http://www.newsmax.com/Newsfront/401k-drained-pension-plans/2013/03/07/id/493638
The study also revealed that more than 25 percent of households that use a defined contribution plan for retirement have breached their balances for nonretirement spending, totaling more than $70 billion in annual withdrawals. The provider of financial advice asserts that “for many of these households, they may be better off not participating in the 401(k) until they build sufficient emergency savings.”
Read Latest Breaking News from Newsmax.com http://www.newsmax.com/Newsfront/401k-drained-pension-plans/2013/03/07/id/493638#ixzz2MspA1qmW
“Stagnant wages and rising costs are making it tougher and tougher for people to save,” Sen. Tom Harkin, D-Iowa, said at a Senate hearing on retirement issues. The gap between what Americans should have for retirement and what they have actually saved is estimated to be as high as $6.6 trillion, he said, according to Reuters.
Things sure aren't stagnant for those one percenters though, are they?
The study also revealed that more than 25 percent of households that use a defined contribution plan for retirement have breached their balances for nonretirement spending, totaling more than $70 billion in annual withdrawals. The provider of financial advice asserts that “for many of these households, they may be better off not participating in the 401(k) until they build sufficient emergency savings.”
Read Latest Breaking News from Newsmax.com http://www.newsmax.com/Newsfront/401k-drained-pension-plans/2013/03/07/id/493638#ixzz2MspA1qmW
“Stagnant wages and rising costs are making it tougher and tougher for people to save,” Sen. Tom Harkin, D-Iowa, said at a Senate hearing on retirement issues. The gap between what Americans should have for retirement and what they have actually saved is estimated to be as high as $6.6 trillion, he said, according to Reuters.
Things sure aren't stagnant for those one percenters though, are they?