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30% of 401(k) holders have borrowed against it

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Libertas:
http://www.zerohedge.com/article/record-number-people-have-taken-out-loan-out-against-their-401k?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

Another sign of the times.  Comments are interesting.  Some people are at least investing the proceeds into sensible things, not blowing it on toys.

Pandora:
Not to worry.  Theresa Gillarducci, the woman who wants to nationalize 401k money and then hand out "annuities", knows people can't be trusted to tend to their future as regards savings and whatnot, so she's going to save us from ourselves.

AlanS:

--- Quote from: Pandora on June 11, 2011, 06:46:57 AM ---Not to worry.  Theresa Gillarducci, the woman who wants to nationalize 401k money and then hand out "annuities", knows people can't be trusted to tend to their future as regards savings and whatnot, so she's going to save us from ourselves.

--- End quote ---

Comforting thought. ::laserkill::

charlesoakwood:

Commenters at Zero are thinking about it, most of that 30% are probably making loans in order to maintain a lifestyle to which they are accustomed.

Sectionhand:
Some people just never frigging learn .

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