Stafford says some Americans have used retirement accounts unwisely
"Converting your pension into a granite countertop" - Marketplace.org. 5/7/2014.
Frank Stafford says that the Great Recession motivated people to raid their retirement accounts not only for emergencies, but also for things like home makeovers. In addition, he says, more than 5% withdrew money before the age of 60, which may have meant an additional 10% tax penalty.