A “Recovery” in Which Baby Boomers are Borrowing from Their 401(k)s?

Baby boomers and others are suffering financial setbacks that cause them to take desperate action. Money Magazine at Time.com wants to warn you about the financial damage you do by taking a premature withdrawal from your retirement account: “Why Millions of Americans Are Raiding Their Retirement Savings.” So why are they? For a headline that promises an answer, the article is rather vague. It certainly can’t be the economy because we’re in the middle of a “recovery” right? So they Read more […]

Labor Participation Lowest Since Carter Administration

This Labor Day marked three months of a 38-year record low labor participation rate. CNS News reports, “Record 94,031,000 Americans Not in Labor Force; Participation Rate Stuck at 38-Year Low for 3rd Straight Month.” A record 94,031,000 Americans were not in the American labor force last month — 261,000 more than July — and the labor force participation rate stayed stuck at 62.6 percent, a 38-year low, for a third straight month in August, the Labor Department reported on Friday, as the Read more […]