Let’s start with bad reasons, they include:

  • Helping relatives
  • Wanting to start a business
  • Paying off credit card debt
  • Living beyond one’s lifetime means

There can be “good” reasons – such as:

  • Unanticipated real-life needs where government benefits are not available (medical needs not met by insurance or Medicare or other programs)
  • Investment into advancing job-readiness skills
  • Similar capital-building programs that truly substitute for the regular payments that will be surrendered at a cost