Cutting costs a new pasttime for retirees

Eliminating some unnecessary expenses and keeping an eye out for ways to save can help keep precious dollars at home.

The golden years of many retirees have been tarnished by low returns on investments and smaller nest eggs than they’d hoped. Meanwhile, longer life spans, increased expenses — particularly rising health care costs — plus a volatile stock market and low interest rates on savings have baby boomers facing tough choices.

 

 

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Entrepreneurs Using 401(k) Savings to Start Businesses

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Michael Amstein unlocked $100,000 from his 401(k) to start a cookie shop

Don Poffenroth paged through a magazine on a flight several years ago when an article grabbed his attention: Entrepreneurs could use 401(k) savings to start a business without getting hit by taxes and early-withdrawal penalties.

 

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