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Author: tjscott0 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 455357  
Subject: Younger Seniors Burning thru IRAs Date: 5/16/2013 12:35 PM
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http://www.businessweek.com/articles/2013-05-16/younger-seni...

The Employee Benefit Research Institute, a nonprofit research group, said May 15 that 48 percent of people who were aged 61 to 70 and in the bottom half of the income distribution withdrew money from their IRAs annually during the period studied (2002-10). Even in the top quarter of incomes, 29 percent of people aged 61 to 70 annually pulled money out of their IRAs, EBRI said.

The sizes of the withdrawals were substantial, too, ranging from 12 percent of funds for young seniors in the top quarter of incomes to 17 percent for those in the bottom quarter.
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