Study: One fourth of young adults dipping into 401(k)s to pay off debt


Most of us are always working towards being debt-free, but it looks like a growing number of young people are going about it the wrong way. 

A new report by Merrill Lynch ( finds a fourth of young adults are dipping into their 401(k)s to pay off their credit cards

Related Content: Warren unveils $640 billion college debt forgiveness plan

The survey looked at nearly 3,000 people ages 18 to 34. 

The second-biggest reason for raiding retirement funds was student loan debt. 

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