Are you using your 401(k) to pay off your bills? - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Are you using your 401(k) to pay off your bills?

Posted: Updated:

According to Human Resources Executive Online, it appears workers are dipping into their 401(k) to pay off bills!

The report says nearly one in three employees say they took a hardship loan from their 401(k) last year, and that's up from one in four in 2011.

So, who's behind employees raiding their retirement savings?  According to Financial Finesse, women, lower-income workers (those making between $35,000 and $60,000) and younger workers (aged 30-44) needed the money, despite the improving job market.

OUR GOOD DAY HOT TOPIC QUESTION: Is your financial situation getting better, worse or staying the same? Post your comments on our FOX 5 Atlanta Facebook page, or tweet us @GoodDayAtlanta.

  • Good Day ArchiveMore>>

  • Improve your commute with the "One Bus Away" app

    Improve your commute with the "One Bus Away" app

    Thursday, April 17 2014 9:03 AM EDT2014-04-17 13:03:23 GMT
    Don't you hate when you're waiting for mass transit and have no idea when that train or bus will show up? Now, there's an app for that and it's saving people time and money.
    Don't you hate when you're waiting for mass transit and have no idea when that train or bus will show up? Now, there's an app for that and it's saving people time and money.
  • Brewery Celebrates The "Sweet" Life At 420 Fest

    Brewery Celebrates The "Sweet" Life At 420 Fest

    Thursday, April 17 2014 8:45 AM EDT2014-04-17 12:45:46 GMT
    A new venue and a major headlining band are set to make this year's 10th Annual SweetWater 420 Fest the biggest yet.
    A new venue and a major headlining band are set to make this year's 10th Annual SweetWater 420 Fest the biggest yet.
  • FOX Medical Team

    Eat for the Test!

    Eat for the Test!

    Thursday, April 17 2014 7:48 AM EDT2014-04-17 11:48:58 GMT
    If you want your student to test well, Cheryl Williams, a registered dietitian with Children's Healthcare of Atlanta says breakfast is the most important meal.
    If you want your student to test well, Cheryl Williams, a registered dietitian with Children's Healthcare of Atlanta says breakfast is the most important meal.
Powered by WorldNow

25 FOX Drive
Dedham, MA 02026

Phone (781) 467-2525

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices