Experts: 401(k)s still are tapped for loans too often

02/6/2013 | Financial Advisor online

The percentage of workers taking 401(k) loans or distributions appears to have decreased, but experts say the numbers are still too high. About $70 billion of the $294 billion deposited each year in 401(k)s is withdrawn for expenses such as mortgages or credit card bills, says Matt Fellowes of HelloWallet.

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