Our daily roundup of retirement news your clients may be thinking about.
Why clients shouldnt use retirement savings to pay off debt Employees with debts who transfer jobs and have the option to withdraw their retirement savings are likely to cash out these savings, according to a study by the Employee Benefit Research Institute. Retirement investors who are making such withdrawals are missing out on the growth of investments that he or she would have earned. Clients should be able to weigh how much it would cost to withdraw and pay down debt, versus keeping the funds in a retirement investment account, which could outpace the level of savings realized from paying down debt, according to EBRI. --The Washington Post
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access