Yet another Obama accomplishmentPosted By david elosser |
Hardship withdrawals from 401(k) retirement saving plans rose to the highest level since the Bush administration during the second quarter... in the latest sign of a dismal economy...At the same time, the percentage of 401(k) participants that had an outstanding loan from their account rose to a record high of 22% in the second quarter..."The current [Obama] economy has forced some workers to borrow from their 401(k) accounts in order to pay for critical living expenses, ultimately jeopardizing their future retirement," said James MacDonald, president of workplace investing for Fidelity Investments.
Wow. So while Obama is calling this the "summer of recovery" CNNMoney is calling this a "dismal economy."
http://money.cnn.com/2010/08/20/news/economy/fidelity_401k_withdrawal/index.htm
David E
Wow. So while Obama is calling this the "summer of recovery" CNNMoney is calling this a "dismal economy."
http://money.cnn.com/2010/08/20/news/economy/fidelity_401k_withdrawal/index.htm
David E