So Long Retirement

Tapping into the last reserves.

Tough Economy Forcing Record Number of Workers to Crack Their Retirement Nest Eggs caution, Faux

"The rough economy is taking its toll and pushing a record number of people to take money out of their retirement plans
. "I would say the No.1 reason is foreclosure," said David Wray, president of the Profit Sharing/401(k) Council. "What you have is two-income families, one person loses their job. Both people's income was necessary to make the mortgage payment."
In fact, July marked the 17th consecutive month that foreclosure activity exceeded 300,000 homes.
Beth McHugh, vice president of marketing insights at Fidelity, said that's a key reason more people are tapping their 401(k)s -- an uptick from about 20 percent to almost 22 percent.
"In the last six months we did see an up-tick in loan requests to prevent eviction and foreclosure," she said."


Market Self-Deception Continues On The Flimsiest Of Excuses

"Anthing will do to fend off reality."

Anything will do to postpone the inevitable while the reptiles clean us out.