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HP Inc. Message Board

  • unafulber unafulber Apr 12, 2013 9:47 AM Flag

    Loans against retirement account spikes in Q4

    Q4 2012 saw a stunning 28% surge in the number of people taking loans from their retirement plans.

    While the numbers are scary for younger people, the older generation is taking more loans with 34.2% of those in their 50s and 28.9% of those in their 60s having taken loans from their retirement plans. Yet another example of the 'strength' of the recovery as those with at least one loan outstanding had an average balance in their retirement plan of $7,764

    All those boomers that retired early are living it up on their $8,000 retirement accounts. Par-TEE.

    Wonder aloud how many people are trying to time these loans to the market top; certainly, you'd think they don't want to sell off on the downturn.

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