Tag: withdraw savings
Retirees have long been reluctant to spend the money they’ve accumulated in their 401(k) savings plans. But it also used to be common for retirees to have a traditional pension to cover their regular expenses. By the time the baby boomers came along, pensions were available to a dwindling minority of workers, and it isn’t…
When between 45 percent and 60 percent of Americans don’t have enough money for retirement, encouraging saving is a national priority. A related issue is preserving the funds once they’re set aside. A survey released last month by Transamerica indicates that workers frequently resort to hardship withdrawals and loans from their 401(k)s, because they lack…