Talking Point: More people dipping into 401K plans

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(KSL News) American consumers are learning to cut back in the face of an economic slowdown. But just as we seem to get a tighter grip on budgets, costs go up again.

A new study today from the Center for American Progress reveals more people are dipping into 401K retirement plans to get by.

Research shows annual borrowing from those plans jumped from $6 billion in 1989 to $31 billion in 2004.

Certified financial planner Thom Hall joined us this evening in Talking Point to discuss how to survive in these troubled economic conditions.

To view this Eyewitness News Talking Point segment, click the play button above.

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