The Danger of Borrowing Money From Your Future Self

2015-04-23T17:36:51-07:00April 23rd, 2015|Categories: 401(k)|Tags: , |

Once upon a time, here’s how employer retirement savings worked: Companies set aside money for employees’ retirement in pensions, also known as defined-benefit plans. These plans typically didn’t require financial contributions from employees, and were funded based on the number of years a worker spent at a particular firm, their salary level, and seniority. When a person retired, monthly checks were waiting for them. […]