Utkus

Some 22% of borrowers use the money to pay for college or medical expenses, and 39% use it to consolidate or pay off higher-cost debt, according to research by Stephen Utkus , director of the Vanguard Center for Retirement Research.

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Plus, says Steve Utkus , head of the Vanguard Center for Retirement Research, "taking money out of an account that is going down is very paralyzing to some people."

Funding the Post-Pension Retirement Karen Blumenthal 2011

Says Steve Utkus of Vanguard's Center for Retirement Research in May of last year, The median tax-deferred holding among households near retirement was around $100,000 ... in 2007.

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Shifting some of the money to a Roth 401 (k) will provide a source of tax-free withdrawals, Utkus says.

USATODAY.com - Targeting the right 401(k) choice for you 2005

With a Roth 401 (k), you don't have that problem, Utkus says.

USATODAY.com - Targeting the right 401(k) choice for you 2005

Most companies aren't ready to offer the plans right away, Utkus says (see box at left).

USATODAY.com - Targeting the right 401(k) choice for you 2005

Whatever your reasons, if you earn income from a job and take taxable withdrawals from your savings, you could land in a higher tax bracket, Utkus says.

USATODAY.com - Targeting the right 401(k) choice for you 2005

If you're in the 10% or 15% tax brackets, making pretax contributions to a standard 401 (k) won't cut your tax bill by much, Utkus says.

USATODAY.com - Targeting the right 401(k) choice for you 2005

Most Americans don't save enough, but if you contribute the maximum to your 401 (k) each year, "You need to make sure you have some money in a Roth 401 (k)," says Stephen Utkus, principal for the Vanguard Center for Retirement Research.

USATODAY.com - Targeting the right 401(k) choice for you 2005

Plus, says Steve Utkus, head of the Vanguard Center for Retirement Research, "taking money out of an account that is going down is very paralyzing to some people."

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