Sunday, February 24, 2008

Oh no...people have found another way to mortgage the future......desolving their 401K!

I see the stock bubble in 2000 didn't teach people anything about their 401K......perhaps it desensitized them to the risk of losing because we seem to have "made back" many of the losses of those dark days. (errr.....except for some of us Tech investors)

Well, it looks as though "tapping" our houses for a quick "fix" of cash has now been replaced by tapping our 401K's. (for some people)

Let's hope this isn't a trend.....I mean that we are systematically ruining all our savings options.

I mean some of us were hoping out homes held some value we could tap during retirement.....there is a chance that that value could go up in smoke if house prices continue to fall. (especially with people going "upside-down" on their mortages)

Say a prayer for sanity.......

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Now thats a very depressing sign 401K'S being cashed out of.

4:59 PM EST  

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