Risky behavior: 1 in 3 millennials dipped into 401(k) or IRA to finance home purchase

Many millennials are stretching financially to buy homes. 

Members of this younger generation are exhibiting risky behavior when coming up with a down payment to buy a home, with about 1 in 3 (29 percent) saying they raided their 401(k) or IRA or borrowed against their retirement accounts, a move personal finance pros say could hurt their financial well-being, according to a new survey from Bank of the West.

Adam Shell | USA TODAY

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