Are you using your 401(k) to pay off your bills? - FOX 35 News Orlando

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>>

  • Casting Call: August 27

    Casting Call: August 27

    Tuesday, September 2 2014 1:42 PM EDT2014-09-02 17:42:30 GMT
    Check out the Good Day Atlanta Casting Call for the week of August 27.
    Check out the Good Day Atlanta Casting Call for the week of August 27.
  • Good Day Atlanta

    From bean to cup: Inside Smyrna's Rev Coffee Roasters

    From bean to cup: Inside Smyrna's Rev Coffee Roasters

    Tuesday, September 2 2014 8:02 AM EDT2014-09-02 12:02:31 GMT
    If you're idea of a good cup of coffee is something strong from the old one-cup in your kitchen, it's time for a coffee education!
    If you're idea of a good cup of coffee is something strong from the old one-cup in your kitchen, it's time for a coffee education!
  • Nonprofit pairs shelter dogs with jail inmates

    Nonprofit pairs shelter dogs with jail inmates

    Monday, September 1 2014 1:24 PM EDT2014-09-01 17:24:57 GMT
    There is a program giving inmates and dogs a second chance. Canine Cellmates saves dogs from being euthanized and pairs them up with inmates at the Fulton County Jail.
    There is a program giving inmates and dogs a second chance. Canine Cellmates saves dogs from being euthanized and pairs them up with inmates at the Fulton County Jail.
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

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