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401(k) Loan Defaults Are A $2 Trillion Retirement Problem
FYI: Over the next decade, defaults from 401(k) loans could account for $2 trillion lost in potential future account balances, according to a report from Deloitte.
"In the 10 years ending Dec. 31, 2018, retirement plans lost approximately $2.5 trillion in potential assets at retirement due to $86 billion worth of defaults." - Christopher Robbins, Time Traveler.
Makes me wonder how many trillion in "potential assets at retirement" are lost due to the billions (trillions?) that aren't invested in the first place. It puzzled me how many people I worked with did not save to the match much less saving more to the max.
Not saving to the match is literally the dumbest decision anybody could ever make. Tell me somewhere else you can earn a 100% return with (essentially) 0 risk?
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