According to a WSJ article, more people are borrowing form their retirement funds. 28% of participating workers had borrowed from their 401(k) as of the end of 2010, up from 26% in 2009.
Most financial advisers might tell you not to raid your 401(k) because the money you invest in your 401(k) is sheltered from income tax, while you must use after-tax dollars to pay back whatever you borrow from the 401(k). Furthermore, if you leave your job, you have to pay back your loan in a short period of time. 75% of employees who leave their job with loan outstanding end up defaulting.
Don't raid your retirement fund. Instead, if you are struggling in today’s tough economy, City Loan is always here to help. Whether you own a car, truck, RV, motorcycle or boat – City Loan can give you a loan today. Bad Credit? No Credit? No Problem! Contact City Loan today and get the cash you need. Visit us at http://www.cityloanfastcash.com or Call 1-877-CASH-SOS.
Monday, June 20, 2011
Saturday, June 11, 2011
3 Ideas around the World That Could Fix U.S. Economy | Long Beach, CA
Bloomberg Businessweek: Below are 3 creative ideas from around the globe that could revive U.S. economy. There are 9 ideas originally reported on Yahoo Finance, but we select only top 3 that are highly applicable to U.S. to be posted here.
- Minimize Mortgages (Germany): In Germany, housing market is less likely to booms and busts because only highly qualified buyers can get a mortgage, and they have to put 20-40% for down payment. Its housing prices increased only 9% since 2003. U.S. should toughen its lending rules to prevent another housing market crash.
- Open the Doors (Turkey): Many people think that U.S. is a land of opportunity for foreign investor. In fact, it is a lot less welcoming compared with other countries such as Turkey who set up Investment Support and Promotion Agency and arrange tax breaks for multinational companies. A turkey-style mix of tax incentives and legal assistance might persuade more foreign firms to invest in U.S. and, thus, create jobs for Americans.
- Swords into Software (Israel): The Pentagon should learn from Israel on how to convert defense budget into commercial products that can benefit the broader economy. Israeli Defense unit has launched successful software ventures such as Check Point Software Technologies, ICQ, and NICE systems. In U.S., no one is responsible for getting commercial bang for military bucks, which means there is plenty of room for improvement.
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