January 15, 2013

Tuesday Off-Topic (Moderated) Open Thread (011513)

Filed under: Lucid Links — Tom @ 8:01 am

Rules are here. Possible comment fodder may follow later. Other topics are also fair game.

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  1. Everything is just peachy…

    R.I.P. Retirement: 28% Of Americans Are Raiding Their 401k Plans

    http://www.zerohedge.com/news/2013-01-15/rip-retirement-28-americans-are-raiding-their-401k-plans

    This trend has been in place since the financial crisis, but the fact that it is accelerating is extremely disconcerting. First off, this is not the kind of behavior that should be witnessed in an “economic recovery.” Second, we need to remember the huge percentage of Americans on food stamps and/or disability. As we have discussed previously, many of them also have jobs. So essentially, a wage and a check from the government is still not enough to survive. They still need to tap into a loan from their 401k plans.

    Comment by dscott — January 15, 2013 @ 5:55 pm

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