RSS FeedA recent article in the Wall Street Journal confirms what I pointed out in a recent NCPA study, "Ten Ways to Wreck Your Retirement." Tapping into retirement accounts is not the best option! Certainly, desperate times can call for desperate measures, but it's important to bear in mind the true cost: penalties, taxes and the lost opportunity of reaping a market comeback.
To readers who are having misgivings about the stock market, the bond market, your 401(k) or IRA accounts and retirement savings in general: Take a look at the new NCPA policy report, "Ten Ways to Wreck Your Retirement." While some of the ways seem obvious, the recent economic turmoil have left some savers tossing common sense out the window. So think carefully before you cash out and stick your money under the mattress or invest in ostrich farms of dubious value (remember those from the 1980s?).
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