The Unexpected Dangers Of Paying Off Student Loans With Your 401(k) Savings

Chris Carosa

Dec 15, 2019

Have you ever heard the phrase “sometimes the cure is worse than the disease”? This may be one of those cures.

The data suggests more problems with this concept. Even those that do save for retirement may have savings too meager to use for student loans. “The Report on the Economic Well-Being of U.S. Households revealed that only 36% of non-retired adults think their retirement savings are on track,” says Stephen H. Akin of Akin Investments, LLC in Biloxi, Mississippi. “The report went on to say that about one third of middle-class adults can’t afford to cover a $400 emergency.

https://www.forbes.com/sites/chriscarosa/2019/12/15/the-unexpected-dangers-of-paying-off-student-loans-with-your-401k-savings/?sh=5c812bd3a20c