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Reply #48: You're right. I don't think people will take the money out to "shop." [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
LonelyLRLiberal Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 02:52 PM
Response to Reply #33
48. You're right. I don't think people will take the money out to "shop."
Give people credit for some intelligence. They can look at their 401k's and see that the value has gone down due to the stock market crash, so taking up to $10k out would have to be for serious reasons. I know lots of people who have done it. I hope people do not do it as a last-ditch effort to pay credit cards, though. They should consider bankruptcy first because their retirement accounts can be protected in bankruptcy.
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