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Retirement Plan Loans, Deferred Contributions Harm Young Investors
Retirement plan loans and delaying making plan contributors have a greater adverse impact on younger individuals who would otherwise have more time for their assets to generate compounded investment returns. So reports PlanAdvisor.
A recent study by Mass Mutual concluded that both practices can result in younger individuals saving 14% less for retirement compared to only 3% for a typical 60 year old.
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