[TigerLikesRooster]

P!

[Gene Eric]

401-Ks are liquidated with penalties, they ain’t “loaned out” (notwithstanding the grace period).

If you have to use it, it’s not the end of the World, it’s just the end of your savings accompanied by a donation to Uncle Sam.

[Lazlo in PA]

What happens when all this retirement fund drain comes to a head, i.e.; all these people retire without any money. Looks like Uncle Sam will be having to take care of these people. Thanks a lot Obummer for ruining peoples lives and the country in 2 short years.

[mylife]

At least they are letting account owners borrow.

In 10 years the Gubmint will be dipping into your account.

[Moonman62]

"It was extremely easy,' she told CBS News, adding that her financial planner told her "she was seeing more and more people" do it, "because the banks were not giving loans out traditionally to small businesses anymore."

Yet corrupt big business and corrupt big government get trillions. It's no wonder the economy isn't recovering.

[SwankyC]

If you have a brain, CASH THAT SHIT OUT!

[Trailerpark Badass]

I wouldn’t be surprised if some of them did a pre-emptive withdrawal, before the govt converts them into treasury bonds.

[OrangeHoof]

I did it a few times and it worked pretty well. But there are pitfalls. One is that your 401(k) is losing its earning power while you have the outstanding loan and, secondly, the loan may become a problem if you lose your job and have to pay it back.

[jobim]

Is anybody drawing their money by age 59 & 1/2 (a requirement), paying the 20% Fed Tax, and getting the hell out of stocks and the US plunging dollar to buy something tangible, something that will hold at least some value when the dollar becomes relatively worthless in 2013?