25% of 401k Holders Raid Their Retirement Fund!

Jar filled with pennies, nickles, dimes, and dollar bills, labeled 401k.
Photo Attribution: takeasmartstep.com

According to HelloWallet and their most recent study about 401k contributions, over 25% of those using a 401k “break” the 401k and borrow from it before retiring. This “fact” received wide attention. But buried deeper in the report was the really mind-blowing data.  “As of 2010, about 40 percent of households included a worker with access to a defined contribution program and 79 percent of those actively participated in it…” Continue reading “25% of 401k Holders Raid Their Retirement Fund!”