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FACT OF THE WEEK
 

3 in 10 working boomers have borrowed or withdrawn from retirement accounts

 

 
Among workers age 18+ who are currently participating in a retirement plan,”27% have taken some form of loan, early withdrawal, and/or hardship withdrawal from a 401(k) or similar plan or IRA. Generation X (30%) is most likely to have taken a loan or withdrawal. Baby Boomers (28%) are slightly less likely. Millennials (22%) are least likely,” according to the 2016 TransAmerica retirement survey. (p. 64)
 
       
 
        Collinson, C. (2016). Perspectives on retirement: Baby boomers, generation X, and millennials 17th annual TransAmerica retirement survey of workers. Los Angeles: TransAmerica Center for Retirement Studies. Retrieved from this source.
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