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To: All Mtn Ski who wrote (5316)	5/3/2005 1:35:04 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 5867

Re: Many of them treated the account as a checking account How would anyone get this information? Isn't it private?

To: All Mtn Ski who wrote (5316)	5/3/2005 4:07:20 PM
From: Kirk ©	Read Replies (2) \| Respond to of 5867

"BTW, the advent of loans from 401(k)s have impacted the "savings" to be had from 401(k)s. I worked for a large US custodian with 15,000 retirement plans and was amazed at how aggressive people are with taking loans from their retirement plans, especially the lower-wage earners who probably need to be saving the most. Many of them treated the account as a checking account, take the money out and then default on the loan and taking the tax hit associated with it (ordinary income and 10% penalty). Not a financially savvy move, IMHO. <g>" It is hard to draw meaningful conclusions on the group of people who will buy lotto tickets or go to Las Vegas rather than save.