Photo via http://www.thedigeratilife.com
EconomicPolicyJournal.com posted a write up(full article here) about 401k’s being a scam. Economics needs
Are 401K’s Scams?
Tag / retirement
Indiana Teacher Pension Costs Almost Billion A Year
Its no secret the Indiana Teachers pension fund is in rough shape. Many economic write ups through the years have given Continue reading →
People Borrowing More from 401k’s
More investors are taking out loans against their 401(k)s, and that could hurt their retirement income by hundreds of dollars a month, according to an analysis by Fidelity Investments released Wednesday.
The number of investors borrowing from their 401(k)s has been steadily increasing for more than a decade. Today, more than one in five people, or 22.5% of Fidelity’s 401(k) investors, borrow against their retirement savings, up from 18.7% in 2000, according to Fidelity’s analysis of 13 million investors.
More than 2 million investors have outstanding loans, and nearly 1 million took out loans in the past year.
Hoosier Econ 