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silverweb

(16,410 posts)

4. Yup. I know someone doing this.

Reply to n2doc (Original post)

Thu Mar 7, 2013, 07:02 PM

Mar 2013

[font color="navy" face="Verdana"]His company shut down after he'd been with them for 20 years. He's now in his late 50s and has been unable to find another job, and his unemployment ran out. All he has left is his 401K, which lost 2/3 of its value in the crash. That's what he's living on, just hoping he can make it last until Social Security kicks in.

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Highlight:

More than 25% of Americans raiding 401(k)s to pay bills [View all] n2doc Mar 2013 OP

a very good low interest loan where you pay yourself back. Skink Mar 2013 #1

Didn't the market hit an all time high this week? upaloopa Mar 2013 #5

Draining funds that ensure security when workers retire has raised new worries DJ13 Mar 2013 #2

More than 25% of Americans "who have" 401(k)s.... sadbear Mar 2013 #3

Exactly. What's a 401K? progressoid Mar 2013 #7

Yup. I know someone doing this. silverweb Mar 2013 #4

Yeah, well the Federal govt is raiding Social Security to pay for the Iraq war too. denverbill Mar 2013 #6