That’s the title of yesterday’s post by Eve Tahmincioglu on her blog CareerDiva. Eve writes about the disturbing trend of more 401(k) participants taking out loans. I’ve written about it myself, 401(k) Participant Loans on the Increase, But Not Always a Good Thing to Do.
Here’s what Eve has to say about it:
Looking for a quick fix, which is your retirement savings, could spell doom. People, this is a temporary Band-aid, and it’s going to hurt when you have to rip it off.
You know, sometimes the direct approach is the best!
More about Eve. She’s the Your Career columnist for MSNBC.com, and author of the book, From the Sandbox to the Corner Office: Lessons Learned on the Journey to the Top.