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After We Lose Our Homes, Is Our Retirement Next? »

Posted by: engineer 8 months, 3 weeks ago

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A monthly survey of CEOs for the first time asked chief financial officers in November if they've seen "an increase in the number of employees taking loans or making hardship withdrawals from their 401(k) accounts?"

Read Full Story at blog.aflcio.org

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engineer8 months, 3 weeks ago

Tanking equity in our homes is compounded by skyrocketing debt on our credit cards: Between 1989 and 2006, Americans' overall credit card debt grew by 315 percent from $211 billion to $876 billion (2006 dollars), according to a recent report by Demos. The nonpartisan think tank also found that in 2004, the average credit card-indebted family allocated 21 percent of its income to servicing monthly debt compared to the 13 percent dedicated to debt payments among all households.
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scriblerus18 months, 2 weeks ago

Yes, our retirement is next. If you aren't forced to spend it, the corporate raiders are likely to get it. They make a point of doing in the little guy.
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marshx8 months, 2 weeks ago

its a scary prospect indeed!
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cowboygrandpa8 months, 2 weeks ago

Well, the greedy have succeeded in making America the home of the indebted. Continure to spend, don't worry the corporations and government have you best interests at heart. High ones.
Thanks engineer. It has been one heck of a roller coaster ride seems like we are in the steep climb part. Everything is slowing down and is barely moving.
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oldgringo8 months, 2 weeks ago

How are the government and greedy corporations responsible for our personal financial problems? No one forces a credit card down our throats. No one forces us to buy big screen TV's or huge SUV's. No one put a gun to our heads and said,"Buy this house that you can't afford." We don't save, we live beyond our means, and we scream bloody murder when we're so far in debt that we can't dig our way out of it. We need to practice fiscal responsibility.
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Leemck028 months, 2 weeks ago

You are lucky if the company is still in business to retire from. That and the mean spirited tactics to drive people out when they get close to retirement. I also hope that social security is there if the company pulls the plug. Who's trying to do the right thing?
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