More strapped Americans are tapping into their 401(k) accounts

  • Article by: Lindsay Wise , McClatchy News Service
  • Updated: February 9, 2013 - 9:17 PM

Workers withdraw billions of dollars for nonretirement needs each year, prompting concerns.

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  • 1 - 6 of 6
theagonybhoFeb. 9, 13 5:18 PM

How can this be? Obama and his media tell us unemployment is virtually non existant, hiring is steady, the economy is growing every day, housing is fixed and the stock market is through the roof, NOT.

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wowjustwowFeb. 9, 13 5:37 PM

Another rock solid sign that this Obama fellow sure is an economic wizard. I'm sure the media will somehow tell us that this is actually a good thing you know, like Pelosi telling us that unemployment is a good thing for the economy.

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cks1950Feb. 10, 13 8:59 AM

When I read sad stories like this one I still can't help but have the warm & fuzzies that we have a administration that finds it more important to prioritize social issues over getting people back to work in the private sector faster. Thank you, President Blame !

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cks1950Feb. 10, 13 9:39 AM

To all the folks who buy the line from the president & the main stream media that things are getting better, perhaps you could share with me what direction interest rates have gone in the president's four years. Perhaps you could also remind me in what direction interest rates go as economic activity picks up or declines? Thanks in advance.

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MN's loneliest REPFeb. 10, 1310:25 AM

I completely agree with the first 4 comments above. President "o-blame-a" and his liberal crew tell us things are getting better, or are already fine...when anyone with half a brain knows that is not the case. And with all the entitlement programs, more and more people see saving for retirement as unnecessary, because "Government will take care of me if I don't have any savings". And with leaders like Obama and Mark Dayton winning on messages of "tax the rich", why would the average Joe feel like they need to save anything. Anyone who has planned for retirement and has the means to support themselves in retirement, guess what the message is going to be for us when we reach retirement...."hey you rich people have saved enough, so you don't need and won't receive any social security". Get ready for another redistribution of wealth plan folks.

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cks1950Feb. 10, 1310:35 AM

One other little item while we're talking about people being desperate enough to have to tap their retirement accts. With interest rates basically at record lows four years in, why other reason would the Fedreal Reserve have for coming up with 85 billion a month if not to keep interest rates at record lows to try to spur some kind of sustainable growth? Anybody?

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