Are you using your 401(k) to pay off your bills?

Are you using your 401(k) to pay off your bills?

Posted: Updated:

According to Human Resources Executive Online, it appears workers are dipping into their 401(k) to pay off bills!

The report says nearly one in three employees say they took a hardship loan from their 401(k) last year, and that's up from one in four in 2011.

So, who's behind employees raiding their retirement savings?  According to Financial Finesse, women, lower-income workers (those making between $35,000 and $60,000) and younger workers (aged 30-44) needed the money, despite the improving job market.

OUR GOOD DAY HOT TOPIC QUESTION: Is your financial situation getting better, worse or staying the same? Post your comments on our FOX 5 Atlanta Facebook page, or tweet us @GoodDayAtlanta.

Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices