Shrinking Savings: Record Number of Americans Dip Into Retirement Nest Egg

It's a decision that 48-year-old Robert Mathis is still paying for. Over a year ago Mathis , a veteran AAA employee, tapped into his retirement account for a work related loan. "My job at that time required me traveling a lot and I needed to buy a new car," Mathis said. Just days after buying the car, Mathis lost his job -- which meant that his loan was immediately treated as a withdrawal, triggering heavy penalties. "My goal wasn't to get rid of it completely but as time went by, I...Full Story
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